Wellington Shields Capital Management LLC Purchases New Position in NVIDIA Co. (NVDA)

Wellington Shields Capital Management LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,900 shares of the computer hardware maker’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVDA. Tocqueville Asset Management L.P. raised its stake in NVIDIA by 33.5% in the third quarter. Tocqueville Asset Management L.P. now owns 167,343 shares of the computer hardware maker’s stock valued at $11,466,000 after buying an additional 41,988 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. raised its stake in NVIDIA by 2.3% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 925,966 shares of the computer hardware maker’s stock valued at $63,447,000 after buying an additional 20,468 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in NVIDIA by 37.0% in the third quarter. Stratos Wealth Partners LTD. now owns 5,846 shares of the computer hardware maker’s stock valued at $401,000 after buying an additional 1,578 shares in the last quarter. Wellington Shields & Co. LLC acquired a new stake in NVIDIA during the third quarter valued at about $206,000. Finally, NEXT Financial Group Inc raised its stake in NVIDIA by 14.1% in the third quarter. NEXT Financial Group Inc now owns 28,419 shares of the computer hardware maker’s stock valued at $1,947,000 after buying an additional 3,505 shares in the last quarter. 85.00% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Shares of NVIDIA Co. (NASDAQ:NVDA) traded up 2.78% on Friday, reaching $136.77. The company’s stock had a trading volume of 17,320,710 shares. The firm has a market cap of $80.97 billion, a price-to-earnings ratio of 45.91 and a beta of 1.31. NVIDIA Co. has a 12 month low of $43.75 and a 12 month high of $138.22. The stock has a 50 day moving average of $107.87 and a 200-day moving average of $101.90.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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. NVIDIA had a net margin of 23.82% and a return on equity of 34.13%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue was up 48.7% on a year-over-year basis. On average, analysts anticipate that NVIDIA Co. will post $3.08 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Tuesday, May 23rd will be given a dividend of $0.14 per share. The ex-dividend date is Friday, May 19th. This represents a $0.56 annualized dividend and a yield of 0.42%. NVIDIA’s payout ratio is 21.96%.

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Several analysts have issued reports on the company. Summit Redstone set a $120.00 price objective on NVIDIA and gave the company a “buy” rating in a research note on Saturday, February 11th. Vetr upgraded NVIDIA from a “buy” rating to a “strong-buy” rating and set a $117.19 price objective on the stock in a research note on Thursday, May 4th. Stifel Nicolaus upped their price objective on NVIDIA from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Rosenblatt Securities restated a “buy” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Friday. Finally, Zacks Investment Research upgraded NVIDIA from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $109.34.

In other news, Director Tench Coxe sold 50,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $129.48, for a total transaction of $6,474,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Byron sold 750 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $102.09, for a total transaction of $76,567.50. Following the sale, the insider now owns 159,442 shares of the company’s stock, valued at $16,277,433.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,240 shares of company stock valued at $34,347,618. Company insiders own 5.82% of the company’s stock.

About NVIDIA

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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