Field & Main Bank Acquires 30 Shares of NVIDIA Co. (NASDAQ:NVDA)
Field & Main Bank increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,330 shares of the computer hardware maker’s stock after purchasing an additional 30 shares during the quarter. Field & Main Bank’s holdings in NVIDIA were worth $720,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. Hoover Financial Advisors Inc. bought a new stake in NVIDIA during the 2nd quarter worth approximately $32,000. Atlantic Trust LLC grew its stake in shares of NVIDIA by 46.9% during the 2nd quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock worth $36,000 after acquiring an additional 30 shares in the last quarter. Ellevest Inc. grew its stake in shares of NVIDIA by 256.7% during the 2nd quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 77 shares in the last quarter. JJJ Advisors Inc. bought a new position in shares of NVIDIA during the 3rd quarter worth approximately $42,000. Finally, Avondale Wealth Management bought a new position in shares of NVIDIA during the 3rd quarter worth approximately $49,000. 68.11% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Debora Shoquist sold 35,340 shares of the firm’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $549.04, for a total value of $19,403,073.60. Following the transaction, the executive vice president now owns 116,068 shares in the company, valued at $63,725,974.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 100,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $489.84, for a total value of $48,984,000.00. Following the completion of the transaction, the chief executive officer now owns 1,370,600 shares in the company, valued at approximately $671,374,704. The disclosure for this sale can be found here. Insiders sold 212,654 shares of company stock worth $110,671,595 in the last 90 days. 4.47% of the stock is owned by company insiders.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.21. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The company’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.24 EPS. On average, equities research analysts predict that NVIDIA Co. will post 6.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Wednesday, September 2nd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, September 1st. NVIDIA’s payout ratio is currently 13.94%.
Several brokerages have recently weighed in on NVDA. Evercore ISI reaffirmed a “buy” rating and set a $450.00 price target on shares of NVIDIA in a research note on Monday, July 6th. Bank of America reaffirmed a “buy” rating and set a $650.00 price target on shares of NVIDIA in a research note on Monday, September 14th. Mizuho raised their price target on shares of NVIDIA from $520.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Needham & Company LLC increased their price objective on NVIDIA from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Finally, Craig Hallum increased their price objective on NVIDIA from $480.00 to $500.00 and gave the company a “hold” rating in a report on Tuesday, September 15th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $522.19.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.
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