Ferguson Wellman Capital Management Inc. reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 5.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 155,271 shares of the computer hardware maker’s stock after selling 9,239 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in NVIDIA were worth $23,538,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rather & Kittrell Inc. bought a new position in NVIDIA in the 4th quarter worth $26,000. Claremont Financial Group Inc. bought a new position in NVIDIA in the 4th quarter worth $29,000. Emerson Wealth LLC bought a new position in NVIDIA in the 1st quarter worth $27,000. Clear Perspectives Financial Planning LLC bought a new position in NVIDIA in the 1st quarter worth $28,000. Finally, Roble Belko & Company Inc raised its holdings in NVIDIA by 550.0% in the 1st quarter. Roble Belko & Company Inc now owns 104 shares of the computer hardware maker’s stock worth $28,000 after purchasing an additional 88 shares in the last quarter. 62.58% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have commented on NVDA. JPMorgan Chase & Co. decreased their price objective on shares of NVIDIA from $230.00 to $220.00 in a report on Thursday, August 25th. Robert W. Baird reduced their target price on shares of NVIDIA from $150.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. BMO Capital Markets reduced their target price on shares of NVIDIA from $230.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday. Raymond James reduced their target price on shares of NVIDIA from $240.00 to $210.00 in a research report on Thursday, August 25th. Finally, Citigroup reduced their target price on shares of NVIDIA from $285.00 to $248.00 and set a “buy” rating on the stock in a research report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $214.91.
NVIDIA Price Performance
NVIDIA (NASDAQ:NVDA – Get Rating) last issued its quarterly earnings data on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter last year, the company earned $0.89 EPS. NVIDIA’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.49 EPS for the current year.
NVIDIA Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Wednesday, September 7th. NVIDIA’s dividend payout ratio (DPR) is presently 5.25%.
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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