Smith Asset Management Group LP Invests $4.74 Million in NVIDIA Corporation (NASDAQ:NVDA)
Smith Asset Management Group LP bought a new stake in NVIDIA Corporation (NASDAQ:NVDA) during the second quarter, Holdings Channel reports. The firm bought 32,800 shares of the computer hardware maker’s stock, valued at approximately $4,742,000.
Several other institutional investors also recently bought and sold shares of the company. DnB Asset Management AS raised its position in NVIDIA Corporation by 7.4% in the first quarter. DnB Asset Management AS now owns 55,328 shares of the computer hardware maker’s stock valued at $6,027,000 after buying an additional 3,800 shares during the last quarter. Private Wealth Partners LLC raised its position in NVIDIA Corporation by 604.8% in the first quarter. Private Wealth Partners LLC now owns 41,898 shares of the computer hardware maker’s stock valued at $4,564,000 after buying an additional 35,953 shares during the last quarter. Telemus Capital LLC bought a new position in NVIDIA Corporation during the first quarter valued at about $654,000. Harvey Capital Management Inc. bought a new position in NVIDIA Corporation during the first quarter valued at about $217,000. Finally, Portland Global Advisors LLC raised its position in NVIDIA Corporation by 12.8% in the first quarter. Portland Global Advisors LLC now owns 2,650 shares of the computer hardware maker’s stock valued at $289,000 after buying an additional 300 shares during the last quarter. Institutional investors own 68.91% of the company’s stock.
Shares of NVIDIA Corporation (NVDA) opened at 155.96 on Friday. NVIDIA Corporation has a 1-year low of $57.32 and a 1-year high of $174.56. The company’s 50 day moving average price is $159.49 and its 200-day moving average price is $127.38. The company has a market capitalization of $92.80 billion, a price-to-earnings ratio of 52.35 and a beta of 1.24. NVIDIA Corporation also was the target of some unusual options trading on Thursday. Traders bought 84,606 put options on the company. This is an increase of 147% compared to the average volume of 34,198 put options.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. NVIDIA Corporation had a return on equity of 39.99% and a net margin of 27.41%. The business’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. On average, equities analysts forecast that NVIDIA Corporation will post $3.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.36%. NVIDIA Corporation’s dividend payout ratio is presently 15.86%.
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Several equities analysts have recently issued reports on the company. Bank of America Corporation restated a “buy” rating on shares of NVIDIA Corporation in a research report on Monday, August 7th. B. Riley restated a “buy” rating and set a $200.00 target price (up from $135.00) on shares of NVIDIA Corporation in a research report on Monday. BidaskClub upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Vetr lowered NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $177.02 target price for the company. in a research report on Wednesday. Finally, Citigroup Inc. restated a “buy” rating and set a $180.00 target price on shares of NVIDIA Corporation in a research report on Thursday. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $144.43.
In other news, Director Harvey C. Jones sold 145,520 shares of NVIDIA Corporation stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $159.31, for a total value of $23,182,791.20. Following the sale, the director now directly owns 30,762 shares of the company’s stock, valued at $4,900,694.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $164.53, for a total value of $8,226,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 572,282 shares of company stock worth $86,830,082. Insiders own 5.82% of the company’s stock.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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