Citizens Financial Group Inc RI lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 11.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,760 shares of the computer hardware maker’s stock after selling 610 shares during the quarter. Citizens Financial Group Inc RI’s holdings in NVIDIA Corporation were worth $688,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meiji Yasuda Life Insurance Co grew its holdings in NVIDIA Corporation by 9.9% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after purchasing an additional 1,000 shares during the period. RB Capital Management LLC acquired a new position in NVIDIA Corporation during the second quarter valued at approximately $272,000. Oppenheimer Asset Management Inc. grew its holdings in NVIDIA Corporation by 17.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after purchasing an additional 2,836 shares during the period. D. Scott Neal Inc. acquired a new position in NVIDIA Corporation during the second quarter valued at approximately $258,000. Finally, Girard Partners LTD. grew its holdings in NVIDIA Corporation by 7.7% during the second quarter. Girard Partners LTD. now owns 3,102 shares of the computer hardware maker’s stock valued at $448,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 65.85% of the company’s stock.
In other NVIDIA Corporation news, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total transaction of $18,268,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Byron sold 409 shares of NVIDIA Corporation stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the transaction, the insider now directly owns 136,199 shares of the company’s stock, valued at approximately $23,291,390.99. The disclosure for this sale can be found here. Insiders have sold a total of 502,210 shares of company stock valued at $79,743,664 in the last ninety days. Insiders own 5.17% of the company’s stock.
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NVDA has been the subject of a number of analyst reports. Mizuho restated a “buy” rating and set a $180.00 price objective (up previously from $170.00) on shares of NVIDIA Corporation in a report on Friday, August 11th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $140.00 price objective on shares of NVIDIA Corporation in a report on Wednesday, August 16th. Bank of America Corporation restated a “buy” rating and set a $185.00 price objective on shares of NVIDIA Corporation in a report on Wednesday, June 21st. Vetr cut shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price objective for the company. in a report on Thursday, August 31st. Finally, Zacks Investment Research upgraded shares of NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price objective for the company in a report on Tuesday, July 11th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. NVIDIA Corporation has a consensus rating of “Hold” and a consensus price target of $145.10.
Shares of NVIDIA Corporation (NVDA) traded down 0.02% during midday trading on Wednesday, reaching $169.58. 3,517,122 shares of the company’s stock were exchanged. NVIDIA Corporation has a 12 month low of $59.51 and a 12 month high of $174.56. The company has a market cap of $101.75 billion, a P/E ratio of 48.77 and a beta of 1.25. The firm has a 50 day moving average price of $165.48 and a 200 day moving average price of $135.45.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 56.2% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Corporation will post $3.61 earnings per share for the current fiscal year.
The business also recently announced 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. This represents a $0.56 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Tuesday, August 22nd. NVIDIA Corporation’s payout ratio is presently 15.86%.
NVIDIA Corporation 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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