Choate Investment Advisors lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,539 shares of the computer hardware maker’s stock after selling 750 shares during the period. Choate Investment Advisors’ holdings in NVIDIA Corporation were worth $945,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Thompson Davis & CO. Inc. raised its position in shares of NVIDIA Corporation by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after acquiring an additional 6 shares in the last quarter. Family Firm Inc. raised its position in shares of NVIDIA Corporation by 0.7% during the 2nd quarter. Family Firm Inc. now owns 1,968 shares of the computer hardware maker’s stock worth $284,000 after acquiring an additional 13 shares in the last quarter. Appleton Partners Inc. MA raised its position in shares of NVIDIA Corporation by 1.2% during the 2nd quarter. Appleton Partners Inc. MA now owns 2,570 shares of the computer hardware maker’s stock worth $372,000 after acquiring an additional 30 shares in the last quarter. Miles Capital Inc. raised its position in shares of NVIDIA Corporation by 1.1% during the 1st quarter. Miles Capital Inc. now owns 3,919 shares of the computer hardware maker’s stock worth $427,000 after acquiring an additional 41 shares in the last quarter. Finally, Broderick Brian C raised its position in shares of NVIDIA Corporation by 0.4% during the 2nd quarter. Broderick Brian C now owns 13,806 shares of the computer hardware maker’s stock worth $1,996,000 after acquiring an additional 52 shares in the last quarter. 65.85% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Michael Byron sold 409 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $171.01, for a total transaction of $69,943.09. Following the completion of the sale, the insider now directly owns 136,199 shares in the company, valued at $23,291,390.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director A Brooke Seawell sold 30,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $170.19, for a total value of $5,105,700.00. Following the sale, the director now owns 16,507 shares of the company’s stock, valued at $2,809,326.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 502,210 shares of company stock valued at $79,743,664. 5.82% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on NVDA. Evercore ISI raised their target price on NVIDIA Corporation from $180.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday. Susquehanna Bancshares Inc raised their target price on NVIDIA Corporation from $140.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday. Jefferies Group LLC reissued a “buy” rating and set a $180.00 target price on shares of NVIDIA Corporation in a research report on Tuesday. Canaccord Genuity reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA Corporation in a research report on Friday, September 8th. Finally, Vetr raised NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $176.95 target price on the stock in a research report on Wednesday, September 6th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $149.13.
Shares of NVIDIA Corporation (NVDA) traded up 6.32% during mid-day trading on Friday, hitting $180.11. The stock had a trading volume of 34,119,764 shares. The company has a 50 day moving average price of $166.30 and a 200 day moving average price of $136.97. The firm has a market cap of $108.07 billion, a P/E ratio of 51.80 and a beta of 1.25. NVIDIA Corporation has a 12-month low of $62.74 and a 12-month high of $180.11.
NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm posted $0.53 earnings per share. NVIDIA Corporation’s revenue was up 56.2% compared to the same quarter last year. Equities analysts forecast that NVIDIA Corporation will post $3.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Thursday, August 24th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.31%. NVIDIA Corporation’s dividend payout ratio is 15.86%.
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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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