River & Mercantile Asset Management LLP trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 60.7% during the second quarter, HoldingsChannel reports. The fund owned 3,279 shares of the computer hardware maker’s stock after selling 5,075 shares during the period. River & Mercantile Asset Management LLP’s holdings in NVIDIA were worth $1,386,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in NVDA. United Bank grew its position in NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after purchasing an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in NVIDIA by 6.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after purchasing an additional 249,045 shares in the last quarter. MAS Advisors LLC grew its position in NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after purchasing an additional 583 shares in the last quarter. Navis Wealth Advisors LLC grew its position in NVIDIA by 205.3% in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after purchasing an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC bought a new position in NVIDIA in the first quarter valued at $929,000. Institutional investors own 64.79% of the company’s stock.
NVIDIA Price Performance
NVDA stock traded down $0.05 during trading on Friday, reaching $467.65. 36,931,701 shares of the company were exchanged, compared to its average volume of 41,514,928. The company has a 50-day moving average of $453.36 and a two-hundred day moving average of $435.95. The company has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 61.70, a P/E/G ratio of 3.53 and a beta of 1.69. NVIDIA Co. has a twelve month low of $138.84 and a twelve month high of $505.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.59 and a quick ratio of 3.06.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Tuesday, November 21st. The computer hardware maker reported $4.02 earnings per share for the quarter, topping analysts’ consensus estimates of $3.03 by $0.99. NVIDIA had a net margin of 42.10% and a return on equity of 72.28%. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $16.19 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 205.5% compared to the same quarter last year. As a group, equities analysts predict that NVIDIA Co. will post 9.82 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Tuesday, December 5th. NVIDIA’s payout ratio is 2.11%.
Insiders Place Their Bets
In other NVIDIA news, EVP Debora Shoquist sold 15,824 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $482.42, for a total transaction of $7,633,814.08. Following the sale, the executive vice president now directly owns 74,036 shares of the company’s stock, valued at approximately $35,716,447.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Debora Shoquist sold 15,824 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $482.42, for a total value of $7,633,814.08. Following the sale, the executive vice president now directly owns 74,036 shares of the company’s stock, valued at approximately $35,716,447.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 218 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $484.99, for a total transaction of $105,727.82. Following the completion of the sale, the director now directly owns 2,183 shares in the company, valued at $1,058,733.17. The disclosure for this sale can be found here. Insiders have sold 135,106 shares of company stock valued at $63,015,982 in the last ninety days. 3.99% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
NVDA has been the subject of a number of analyst reports. Edward Jones downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of NVIDIA in a research report on Friday, November 17th. Rosenblatt Securities reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, November 22nd. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $600.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, November 22nd. Finally, Robert W. Baird lifted their price objective on shares of NVIDIA from $570.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $588.38.
Check Out Our Latest Stock Report on NVIDIA
NVIDIA Company Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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