Landsberg Bennett & Dubbaneh LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,858 shares of the computer hardware maker’s stock after selling 302 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in NVIDIA were worth $1,178,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Deltec Asset Management LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth about $452,000. Meadow Creek Investment Management LLC raised its holdings in NVIDIA by 6.2% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 149,192 shares of the computer hardware maker’s stock valued at $24,502,000 after acquiring an additional 8,738 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in NVIDIA by 28.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,558 shares of the computer hardware maker’s stock valued at $280,000 after acquiring an additional 346 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in NVIDIA by 2,473.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 592 shares of the computer hardware maker’s stock valued at $97,000 after acquiring an additional 569 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in NVIDIA by 172.1% in the 2nd quarter. Clearstead Advisors LLC now owns 3,633 shares of the computer hardware maker’s stock valued at $596,000 after acquiring an additional 2,298 shares in the last quarter. 64.38% of the stock is owned by institutional investors and hedge funds.
In other news, Director Dawn E. Hudson sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the transaction, the director now directly owns 36,037 shares in the company, valued at approximately $6,188,634.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 31,357 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $179.01, for a total value of $5,613,216.57. The disclosure for this sale can be found here. Insiders sold a total of 68,883 shares of company stock worth $12,042,217 over the last 90 days. 4.64% of the stock is owned by corporate insiders.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.37. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the company earned $1.94 EPS. The firm’s revenue was down 17.4% on a year-over-year basis. As a group, analysts expect that NVIDIA Co. will post 4.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, August 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.34%. NVIDIA’s dividend payout ratio is currently 10.54%.
NVDA has been the subject of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 price target (up previously from $170.00) on shares of NVIDIA in a report on Friday, August 16th. Cascend Securities raised NVIDIA from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Thursday, July 11th. Evercore ISI upped their price target on NVIDIA from $185.00 to $225.00 and gave the company an “outperform” rating in a report on Monday. FBN Securities set a $190.00 price target on NVIDIA and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $210.00 price target on shares of NVIDIA in a report on Wednesday, August 21st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $189.45.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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.
Further Reading: Price to Earnings Ratio (PE)
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