Northwestern Mutual Wealth Management Co. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 71.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,600 shares of the computer hardware maker’s stock after buying an additional 3,588 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in NVIDIA were worth $937,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank acquired a new position in shares of NVIDIA during the third quarter worth about $103,681,000. Monetta Financial Services Inc. acquired a new position in shares of NVIDIA during the third quarter worth about $2,467,000. Hartline Investment Corp raised its position in shares of NVIDIA by 174.8% in the third quarter. Hartline Investment Corp now owns 44,169 shares of the computer hardware maker’s stock worth $3,026,000 after buying an additional 28,094 shares during the period. Traynor Capital Management Inc. acquired a new position in shares of NVIDIA during the third quarter worth about $226,000. Finally, AMP Capital Investors Ltd raised its position in shares of NVIDIA by 89.3% in the third quarter. AMP Capital Investors Ltd now owns 487,075 shares of the computer hardware maker’s stock worth $32,828,000 after buying an additional 229,746 shares during the period. Hedge funds and other institutional investors own 85.00% of the company’s stock.
Shares of NVIDIA Co. (NASDAQ:NVDA) opened at 143.64 on Monday. NVIDIA Co. has a 1-year low of $44.57 and a 1-year high of $147.00. The company’s 50-day moving average price is $119.59 and its 200 day moving average price is $107.11. The stock has a market cap of $85.47 billion, a PE ratio of 48.22 and a beta of 1.31.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. NVIDIA had a return on equity of 34.19% and a net margin of 26.17%. NVIDIA’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. Equities analysts forecast that NVIDIA Co. will post $3.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Tuesday, May 23rd will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, May 19th. NVIDIA’s dividend payout ratio is currently 21.96%.
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A number of research analysts have recently issued reports on NVDA shares. Roth Capital reiterated a “neutral” rating and set a $95.00 target price (down previously from $120.00) on shares of NVIDIA in a research report on Monday, February 6th. BMO Capital Markets increased their target price on NVIDIA from $75.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, February 6th. Susquehanna Bancshares Inc reiterated a “neutral” rating on shares of NVIDIA in a research report on Tuesday, February 7th. Barclays PLC reiterated a “hold” rating and set a $90.00 target price on shares of NVIDIA in a research report on Tuesday, February 7th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $75.00 target price on shares of NVIDIA in a research report on Wednesday, February 8th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $113.02.
In related news, insider Jen Hsun Huang sold 41,670 shares of the stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $98.30, for a total value of $4,096,161.00. Following the completion of the transaction, the insider now owns 1,811,456 shares of the company’s stock, valued at $178,066,124.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Debora Shoquist sold 63,717 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $144.81, for a total value of $9,226,858.77. Following the completion of the transaction, the executive vice president now directly owns 330,040 shares of the company’s stock, valued at approximately $47,793,092.40. The disclosure for this sale can be found here. Insiders sold 488,252 shares of company stock valued at $59,216,841 in the last three months. 5.82% of the stock is currently owned by company insiders.
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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