Tower View Investment Management & Research LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.0% during the 1st quarter, Holdings Channel reports. The fund owned 6,874 shares of the computer hardware maker’s stock after buying an additional 134 shares during the period. Tower View Investment Management & Research LLC’s holdings in NVIDIA were worth $1,234,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TD Capital Management LLC acquired a new position in NVIDIA during the fourth quarter valued at approximately $27,000. Capital Financial Planning LLC acquired a new position in NVIDIA during the fourth quarter valued at approximately $28,000. Clarfeld Financial Advisors LLC acquired a new position in NVIDIA during the fourth quarter valued at approximately $29,000. Trust Department MB Financial Bank N A acquired a new position in NVIDIA during the fourth quarter valued at approximately $31,000. Finally, Truvestments Capital LLC acquired a new position in NVIDIA during the first quarter valued at approximately $33,000. 69.81% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the stock. Sanford C. Bernstein cut shares of NVIDIA from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $250.00 to $175.00 in a research report on Monday, February 11th. Royal Bank of Canada dropped their price objective on shares of NVIDIA from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, December 27th. BidaskClub lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Oppenheimer reiterated an “outperform” rating and set a $250.00 price objective on shares of NVIDIA in a research note on Wednesday, January 9th. Finally, Zacks Investment Research lowered shares of NVIDIA from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $204.46.
Shares of NASDAQ:NVDA opened at $184.70 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.94 and a quick ratio of 6.76. The firm has a market capitalization of $115.62 billion, a P/E ratio of 30.43, a P/E/G ratio of 4.59 and a beta of 1.90. NVIDIA Co. has a 12-month low of $124.46 and a 12-month high of $292.76.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, February 14th. The computer hardware maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.27. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.22 billion. NVIDIA had a net margin of 35.35% and a return on equity of 41.78%. The business’s revenue was down 24.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Equities research analysts predict that NVIDIA Co. will post 4.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.35%. NVIDIA’s dividend payout ratio (DPR) is presently 10.54%.
In related news, CFO Colette Kress sold 14,092 shares of NVIDIA stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $183.33, for a total value of $2,583,486.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Debora Shoquist sold 5,823 shares of NVIDIA stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the completion of the sale, the executive vice president now owns 171,783 shares of the company’s stock, valued at approximately $31,779,855. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,029 shares of company stock valued at $3,678,385. Insiders own 4.70% of the company’s stock.
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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 game-streaming service; 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 cryptocurrency-specific graphics processing units.
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