King Luther Capital Management Corp trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,600 shares of the computer hardware maker’s stock after selling 400 shares during the period. King Luther Capital Management Corp’s holdings in NVIDIA Corporation were worth $520,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in NVDA. Main Street Research LLC bought a new stake in NVIDIA Corporation during the first quarter valued at about $324,000. Karp Capital Management Corp bought a new stake in NVIDIA Corporation during the first quarter valued at about $31,238,000. Sei Investments Co. boosted its holdings in NVIDIA Corporation by 23.6% during the first quarter. Sei Investments Co. now owns 664,054 shares of the computer hardware maker’s stock valued at $72,336,000 after acquiring an additional 126,804 shares during the period. TD Asset Management Inc. boosted its holdings in NVIDIA Corporation by 3.5% during the first quarter. TD Asset Management Inc. now owns 245,242 shares of the computer hardware maker’s stock valued at $26,714,000 after acquiring an additional 8,368 shares during the period. Finally, Tdam USA Inc. boosted its holdings in NVIDIA Corporation by 3.8% during the first quarter. Tdam USA Inc. now owns 3,853 shares of the computer hardware maker’s stock valued at $420,000 after acquiring an additional 140 shares during the period. Institutional investors own 65.79% of the company’s stock.
NVIDIA Corporation (NVDA) opened at 187.35 on Wednesday. NVIDIA Corporation has a 12 month low of $63.27 and a 12 month high of $191.20. The company has a market capitalization of $112.41 billion, a PE ratio of 53.88 and a beta of 1.25. The stock’s 50 day moving average is $167.68 and its 200-day moving average is $138.76. NVIDIA Corporation also saw some unusual options trading activity on Monday. Traders bought 104,416 put options on the company. This is an increase of 247% compared to the typical daily volume of 30,111 put options.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 56.2% on a year-over-year basis. On average, analysts expect that NVIDIA Corporation will post $3.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Thursday, August 24th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio is currently 15.86%.
In other news, Director Harvey C. Jones sold 145,520 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $159.31, for a total value of $23,182,791.20. Following the sale, the director now directly owns 30,762 shares of the company’s stock, valued at approximately $4,900,694.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $189.62, for a total transaction of $9,481,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 502,210 shares of company stock worth $81,320,664. Insiders own 5.17% of the company’s stock.
A number of research analysts have recently commented on the stock. Vetr raised shares of NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $176.95 price objective for the company in a research report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA Corporation in a research report on Thursday, July 13th. BidaskClub lowered shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Needham & Company LLC reaffirmed a “buy” rating on shares of NVIDIA Corporation in a research report on Friday, August 11th. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating on shares of NVIDIA Corporation in a research report on Monday, July 3rd. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. NVIDIA Corporation has a consensus rating of “Hold” and a consensus target price of $150.03.
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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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