Parsons Capital Management Inc. RI raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,042 shares of the computer hardware maker’s stock after buying an additional 122 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in NVIDIA were worth $335,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Thor Advisors LLC bought a new stake in NVIDIA during the 1st quarter worth about $29,000. Harvest Group Wealth Management LLC bought a new stake in NVIDIA during the 1st quarter worth about $30,000. Creative Financial Designs Inc. ADV grew its holdings in NVIDIA by 181.2% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 194 shares of the computer hardware maker’s stock worth $35,000 after acquiring an additional 125 shares during the last quarter. Field & Main Bank bought a new stake in NVIDIA during the 2nd quarter worth about $33,000. Finally, Sound Income Strategies LLC grew its holdings in NVIDIA by 96.2% during the 2nd quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. 67.54% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Colette Kress sold 2,236 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $164.01, for a total transaction of $366,726.36. Following the completion of the sale, the chief financial officer now directly owns 239,710 shares of the company’s stock, valued at approximately $39,314,837.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $145.10, for a total value of $14,510,000.00. Following the sale, the director now directly owns 32,983 shares of the company’s stock, valued at $4,785,833.30. The disclosure for this sale can be found here. Insiders sold a total of 104,736 shares of company stock worth $15,293,726 over the last quarter. 4.64% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:NVDA traded up $10.79 during mid-day trading on Friday, reaching $159.56. The stock had a trading volume of 25,199,000 shares, compared to its average volume of 9,067,289. The firm has a market cap of $91.39 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 3.84 and a beta of 2.07. The firm has a 50 day simple moving average of $163.66 and a two-hundred day simple moving average of $163.39. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. NVIDIA Co. has a twelve month low of $124.46 and a twelve month high of $292.76.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.37. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. NVIDIA’s revenue for the quarter was down 17.4% on a year-over-year basis. During the same period last year, the company posted $1.94 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 4.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, August 29th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.40%. NVIDIA’s dividend payout ratio is 10.54%.
A number of equities research analysts have commented on NVDA shares. Sanford C. Bernstein set a $150.00 price objective on shares of NVIDIA and gave the stock a “hold” rating in a report on Wednesday, June 26th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of NVIDIA in a report on Friday. Barclays decreased their price objective on shares of NVIDIA from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday. Zacks Investment Research lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, UBS Group decreased their price objective on shares of NVIDIA from $210.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $193.04.
NVIDIA Company Profile
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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