Edge Asset Management Inc. Invests $10.13 Million in NVIDIA Corporation (NVDA)

Edge Asset Management Inc. acquired a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA) during the first quarter, Holdings Channel reports. The fund acquired 92,995 shares of the computer hardware maker’s stock, valued at approximately $10,130,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC boosted its position in NVIDIA Corporation by 0.3% in the first quarter. Arete Wealth Advisors LLC now owns 2,884 shares of the computer hardware maker’s stock valued at $314,000 after buying an additional 10 shares during the last quarter. Savant Capital LLC boosted its position in NVIDIA Corporation by 2.7% in the first quarter. Savant Capital LLC now owns 2,270 shares of the computer hardware maker’s stock valued at $247,000 after buying an additional 60 shares during the last quarter. Whittier Trust Co. boosted its position in NVIDIA Corporation by 2.1% in the first quarter. Whittier Trust Co. now owns 3,135 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 63 shares during the last quarter. Rational Advisors LLC boosted its position in NVIDIA Corporation by 2.0% in the first quarter. Rational Advisors LLC now owns 4,045 shares of the computer hardware maker’s stock valued at $441,000 after buying an additional 80 shares during the last quarter. Finally, Pier Capital LLC boosted its position in NVIDIA Corporation by 1.8% in the first quarter. Pier Capital LLC now owns 4,631 shares of the computer hardware maker’s stock valued at $504,000 after buying an additional 81 shares during the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for NVIDIA Corporation (NASDAQ:NVDA)

NVIDIA Corporation (NASDAQ:NVDA) opened at 153.83 on Friday. NVIDIA Corporation has a 1-year low of $44.57 and a 1-year high of $168.50. The company has a 50-day moving average of $136.06 and a 200 day moving average of $112.54. The stock has a market cap of $91.53 billion, a P/E ratio of 51.64 and a beta of 1.24.

NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.16. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. NVIDIA Corporation’s revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. Analysts predict that NVIDIA Corporation will post $3.09 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 14th. Investors of record on Tuesday, May 23rd were issued a $0.14 dividend. The ex-dividend date was Friday, May 19th. This represents a $0.56 annualized dividend and a yield of 0.36%. NVIDIA Corporation’s dividend payout ratio (DPR) is currently 18.60%.

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Several research analysts have recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $135.00 price objective on shares of NVIDIA Corporation in a report on Tuesday, March 14th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $165.00 price objective (up from $130.00) on shares of NVIDIA Corporation in a report on Monday, May 15th. Barclays PLC reissued an “equal weight” rating and set a $105.00 price objective (up from $90.00) on shares of NVIDIA Corporation in a report on Wednesday, May 10th. J P Morgan Chase & Co reissued a “neutral” rating and set a $122.00 price objective on shares of NVIDIA Corporation in a report on Monday, May 15th. Finally, Vetr cut shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $142.10 price objective for the company. in a report on Tuesday, May 23rd. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $121.22.

In other NVIDIA Corporation news, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $130.02, for a total transaction of $325,050.00. Following the sale, the director now directly owns 24,652 shares in the company, valued at $3,205,253.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 133,542 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $108.53, for a total transaction of $14,493,313.26. Following the sale, the executive vice president now owns 601,367 shares in the company, valued at $65,266,360.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 605,824 shares of company stock worth $85,226,395. 5.82% of the stock is owned by insiders.

About NVIDIA Corporation

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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