Highland Capital Management LLC bought a new stake in Nvidia Corp. (NASDAQ:NVDA) during the third quarter, according to its most recent disclosure with the SEC. The fund bought 42,736 shares of the computer hardware maker’s stock, valued at approximately $2,928,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Columbus Circle Investors increased its position in shares of Nvidia Corp. by 22.2% in the second quarter. Columbus Circle Investors now owns 1,087,665 shares of the computer hardware maker’s stock valued at $51,131,000 after buying an additional 197,299 shares during the period. Trinity Street Asset Management LLP boosted its stake in shares of Nvidia Corp. by 154.6% in the second quarter. Trinity Street Asset Management LLP now owns 563,363 shares of the computer hardware maker’s stock worth $26,483,000 after buying an additional 342,092 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Nvidia Corp. by 36.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 155,034 shares of the computer hardware maker’s stock worth $10,623,000 after buying an additional 41,450 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Nvidia Corp. by 4.0% in the third quarter. Exxonmobil Investment Management Inc. TX now owns 136,605 shares of the computer hardware maker’s stock worth $9,360,000 after buying an additional 5,290 shares in the last quarter. Finally, AGF Investments Inc. purchased a new stake in shares of Nvidia Corp. during the second quarter worth approximately $49,132,000. Hedge funds and other institutional investors own 84.86% of the company’s stock.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded down 0.05% during trading on Monday, hitting $94.11. The company’s stock had a trading volume of 6,968,370 shares. Nvidia Corp. has a 52 week low of $24.75 and a 52 week high of $95.25. The firm’s 50 day moving average price is $75.16 and its 200-day moving average price is $60.10. The company has a market cap of $50.63 billion, a PE ratio of 48.09 and a beta of 1.17.
Nvidia Corp. (NASDAQ:NVDA) last posted its earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.37. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.69 billion. Nvidia Corp. had a net margin of 19.52% and a return on equity of 26.82%. The business’s quarterly revenue was up 53.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. On average, analysts predict that Nvidia Corp. will post $2.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be issued a dividend of $0.14 per share. This is a positive change 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 annualized dividend and a dividend yield of 0.60%. Nvidia Corp.’s payout ratio is presently 29.32%.
A number of analysts have commented on NVDA shares. RBC Capital Markets lifted their price target on Nvidia Corp. to $95.00 in a research report on Friday, November 11th. Goldman Sachs Group Inc. lifted their price target on Nvidia Corp. to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. B. Riley reaffirmed a “buy” rating and set a $64.50 price target on shares of Nvidia Corp. in a research report on Wednesday, August 10th. Roth Capital set a $68.00 price target on Nvidia Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Jefferies Group lifted their price target on Nvidia Corp. from $56.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $72.15.
In other Nvidia Corp. news, insider Michael Byron sold 409 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $63.35, for a total value of $25,910.15. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director A Brooke Seawell sold 35,000 shares of the business’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $87.74, for a total transaction of $3,070,900.00. Following the completion of the transaction, the director now owns 41,213 shares in the company, valued at approximately $3,616,028.62. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
Nvidia Corp. Company Profile
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.