First Midwest Bank Trust Division lowered its stake in Nvidia Corp. (NASDAQ:NVDA) by 41.0% during the third quarter, Holdings Channel reports. The firm owned 22,695 shares of the computer hardware maker’s stock after selling 15,795 shares during the period. First Midwest Bank Trust Division’s holdings in Nvidia Corp. were worth $1,555,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in NVDA. Sigma Planning Corp boosted its position in Nvidia Corp. by 16.9% in the third quarter. Sigma Planning Corp now owns 16,996 shares of the computer hardware maker’s stock valued at $1,165,000 after buying an additional 2,462 shares in the last quarter. GRATRY & Co LLC purchased a new position in Nvidia Corp. during the third quarter valued at about $353,000. Prudential Financial Inc. boosted its position in Nvidia Corp. by 3.0% in the third quarter. Prudential Financial Inc. now owns 807,170 shares of the computer hardware maker’s stock valued at $55,307,000 after buying an additional 23,712 shares in the last quarter. Sentry Investment Management LLC boosted its position in Nvidia Corp. by 1.9% in the third quarter. Sentry Investment Management LLC now owns 39,305 shares of the computer hardware maker’s stock valued at $2,693,000 after buying an additional 727 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in Nvidia Corp. by 848.0% in the third quarter. Global X Management Co. LLC now owns 7,167 shares of the computer hardware maker’s stock valued at $491,000 after buying an additional 6,411 shares in the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 94.16 on Monday. Nvidia Corp. has a 12-month low of $24.75 and a 12-month high of $95.25. The company has a market capitalization of $50.66 billion, a P/E ratio of 48.11 and a beta of 1.17. The company has a 50 day moving average of $74.93 and a 200-day moving average of $59.58.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.37. Nvidia Corp. had a net margin of 19.52% and a return on equity of 26.82%. The company earned $2 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The business’s revenue was up 53.6% on a year-over-year basis. On average, equities analysts anticipate that Nvidia Corp. will post $2.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be paid a $0.14 dividend. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.59%. Nvidia Corp.’s dividend payout ratio is currently 29.32%.
NVDA has been the subject of several analyst reports. Jefferies Group increased their price target on shares of Nvidia Corp. from $56.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, August 8th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $72.00 target price on shares of Nvidia Corp. in a report on Wednesday, August 31st. B. Riley reaffirmed a “buy” rating and issued a $85.00 target price on shares of Nvidia Corp. in a report on Thursday, October 27th. Wells Fargo & Co. reaffirmed an “underperform” rating and issued a $59.00 target price (up from $33.00) on shares of Nvidia Corp. in a report on Sunday, November 13th. Finally, Goldman Sachs Group Inc. increased their target price on shares of Nvidia Corp. to $70.00 and gave the company a “buy” rating in a report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $72.15.
In related news, CFO Colette Kress sold 37,804 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $68.60, for a total transaction of $2,593,354.40. Following the completion of the sale, the chief financial officer now owns 444,812 shares in the company, valued at approximately $30,514,103.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 48,000 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $63.66, for a total transaction of $3,055,680.00. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.