Polaris Greystone Financial Group LLC Lowers Holdings in NVIDIA Co. (NVDA)
Polaris Greystone Financial Group LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 17.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 106,803 shares of the computer hardware maker’s stock after selling 22,674 shares during the quarter. NVIDIA comprises about 2.1% of Polaris Greystone Financial Group LLC’s portfolio, making the stock its 9th largest position. Polaris Greystone Financial Group LLC’s holdings in NVIDIA were worth $30,014,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of NVIDIA by 8,286.6% in the 1st quarter. Millennium Management LLC now owns 212,265 shares of the computer hardware maker’s stock valued at $49,158,000 after buying an additional 209,734 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of NVIDIA in the 1st quarter valued at about $324,000. Summit Trail Advisors LLC lifted its holdings in shares of NVIDIA by 24,174.1% in the 1st quarter. Summit Trail Advisors LLC now owns 756,866 shares of the computer hardware maker’s stock valued at $757,000 after buying an additional 753,748 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of NVIDIA by 5.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,003,742 shares of the computer hardware maker’s stock valued at $232,456,000 after buying an additional 53,672 shares during the period. Finally, BKD Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at about $237,000. 65.79% of the stock is owned by institutional investors.
NASDAQ:NVDA opened at $229.17 on Friday. NVIDIA Co. has a 12 month low of $180.58 and a 12 month high of $292.76. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23. The company has a market cap of $145.63 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 3.14 and a beta of 1.64.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Thursday, August 30th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 29th. This represents a $0.60 annualized dividend and a yield of 0.26%. NVIDIA’s dividend payout ratio (DPR) is currently 12.85%.
Several equities analysts have recently issued reports on NVDA shares. Royal Bank of Canada boosted their price objective on NVIDIA from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, June 25th. BidaskClub cut NVIDIA from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Benchmark assumed coverage on NVIDIA in a report on Tuesday, June 26th. They issued a “buy” rating and a $280.00 price target for the company. FBN Securities assumed coverage on NVIDIA in a report on Tuesday, June 26th. They issued an “outperform” rating and a $300.00 price target for the company. Finally, Zacks Investment Research cut NVIDIA from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $292.52.
In other NVIDIA news, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the completion of the sale, the executive vice president now directly owns 184,001 shares in the company, valued at approximately $53,240,689.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Byron sold 11,257 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $263.94, for a total value of $2,971,172.58. Following the completion of the sale, the insider now owns 81,414 shares of the company’s stock, valued at $21,488,411.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,707 shares of company stock valued at $32,347,973. 4.70% of the stock is owned by company insiders.
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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