Suffolk Capital Management LLC lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.6% during the third quarter, HoldingsChannel.com reports. The firm owned 34,971 shares of the computer hardware maker’s stock after selling 5,502 shares during the quarter. Suffolk Capital Management LLC’s holdings in NVIDIA were worth $9,828,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Holderness Investments Co. raised its position in shares of NVIDIA by 3.2% during the second quarter. Holderness Investments Co. now owns 6,481 shares of the computer hardware maker’s stock worth $1,535,000 after purchasing an additional 200 shares during the period. Grimes & Company Inc. raised its position in shares of NVIDIA by 9.0% during the second quarter. Grimes & Company Inc. now owns 2,480 shares of the computer hardware maker’s stock worth $588,000 after purchasing an additional 205 shares during the period. Charter Trust Co. raised its position in shares of NVIDIA by 4.9% during the second quarter. Charter Trust Co. now owns 4,471 shares of the computer hardware maker’s stock worth $1,059,000 after purchasing an additional 207 shares during the period. LVW Advisors LLC grew its holdings in shares of NVIDIA by 11.7% during the second quarter. LVW Advisors LLC now owns 2,010 shares of the computer hardware maker’s stock worth $476,000 after buying an additional 210 shares in the last quarter. Finally, Security National Bank grew its holdings in shares of NVIDIA by 0.9% during the third quarter. Security National Bank now owns 25,118 shares of the computer hardware maker’s stock worth $7,059,000 after buying an additional 212 shares in the last quarter. 66.12% of the stock is currently owned by institutional investors.
NVDA stock opened at $149.08 on Wednesday. The company has a quick ratio of 6.20, a current ratio of 7.08 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $88.27 billion, a price-to-earnings ratio of 31.92, a P/E/G ratio of 1.94 and a beta of 2.01. NVIDIA Co. has a twelve month low of $133.31 and a twelve month high of $292.76.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.06). The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.24 billion. NVIDIA had a net margin of 37.78% and a return on equity of 51.60%. On average, research analysts predict that NVIDIA Co. will post 7.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.43%. This is an increase from NVIDIA’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 29th. NVIDIA’s dividend payout ratio (DPR) is currently 12.85%.
In other news, insider Michael Byron sold 11,257 shares of NVIDIA stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the completion of the transaction, the insider now directly owns 81,414 shares in the company, valued at approximately $21,488,411.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 90,831 shares of NVIDIA stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the transaction, the executive vice president now owns 184,001 shares of the company’s stock, valued at $53,240,689.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,707 shares of company stock valued at $32,347,973. Corporate insiders own 4.70% of the company’s stock.
A number of research analysts recently issued reports on NVDA shares. Goldman Sachs Group upgraded NVIDIA from a “buy” rating to a “conviction-buy” rating and decreased their price objective for the stock from $324.00 to $305.00 in a report on Thursday, October 18th. Evercore ISI increased their price objective on NVIDIA from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a report on Friday, October 5th. Needham & Company LLC increased their price objective on NVIDIA from $325.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Finally, UBS Group upgraded NVIDIA from a “market perform” rating to an “outperform” rating in a report on Friday, August 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. NVIDIA presently has an average rating of “Buy” and a consensus price target of $261.28.
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NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates through 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 game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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