Raymond James Trust N.A. Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)
Raymond James Trust N.A. lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,378 shares of the computer hardware maker’s stock after purchasing an additional 883 shares during the quarter. Raymond James Trust N.A.’s holdings in NVIDIA were worth $9,947,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allred Capital Management LLC raised its holdings in shares of NVIDIA by 6.5% during the 3rd quarter. Allred Capital Management LLC now owns 2,871 shares of the computer hardware maker’s stock valued at $1,553,000 after buying an additional 175 shares in the last quarter. Norway Savings Bank raised its holdings in shares of NVIDIA by 150.0% during the 3rd quarter. Norway Savings Bank now owns 125 shares of the computer hardware maker’s stock valued at $68,000 after buying an additional 75 shares in the last quarter. Aries Wealth Management purchased a new position in NVIDIA in the 3rd quarter worth approximately $216,000. Steigerwald Gordon & Koch Inc. purchased a new position in NVIDIA in the 3rd quarter worth approximately $272,000. Finally, Newman Dignan & Sheerar Inc. increased its stake in NVIDIA by 8.1% in the 3rd quarter. Newman Dignan & Sheerar Inc. now owns 2,205 shares of the computer hardware maker’s stock worth $1,193,000 after purchasing an additional 165 shares during the period. 68.11% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on NVDA shares. Goldman Sachs Group reaffirmed a “buy” rating and issued a $585.00 price target (up from $528.00) on shares of NVIDIA in a research note on Wednesday, September 2nd. New Street Research cut NVIDIA from a “neutral” rating to a “sell” rating and set a $400.00 price target on the stock. in a research note on Thursday, October 8th. Bank of America reaffirmed a “buy” rating and issued a $650.00 price target on shares of NVIDIA in a research note on Monday, September 14th. Barclays lifted their price objective on NVIDIA from $450.00 to $525.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Finally, Benchmark upgraded NVIDIA to a “buy” rating and lifted their price objective for the stock from $540.00 to $600.00 in a research report on Wednesday, September 2nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-one have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $521.49.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The company’s revenue was up 50.1% on a year-over-year basis. As a group, analysts anticipate that NVIDIA Co. will post 6.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Wednesday, September 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, September 1st. NVIDIA’s dividend payout ratio is currently 13.94%.
In other news, Director Stephen C. Neal acquired 435 shares of NVIDIA stock in a transaction that occurred on Monday, September 21st. The stock was bought at an average price of $498.23 per share, for a total transaction of $216,730.05. Following the completion of the transaction, the director now owns 3,963 shares in the company, valued at $1,974,485.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 629 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $533.30, for a total value of $335,445.70. The disclosure for this sale can be found here. Insiders sold 173,320 shares of company stock valued at $87,129,970 in the last 90 days. Company insiders own 4.47% of the company’s stock.
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.
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