First City Capital Management Inc. bought a new position in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,735 shares of the computer hardware maker’s stock, valued at approximately $232,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. TD Capital Management LLC bought a new position in NVIDIA in the 4th quarter worth about $27,000. Trust Department MB Financial Bank N A purchased a new position in shares of NVIDIA in the 4th quarter worth about $31,000. Resources Investment Advisors Inc. purchased a new position in shares of NVIDIA in the 4th quarter worth about $42,000. Intercontinental Wealth Advisors LLC purchased a new position in shares of NVIDIA in the 4th quarter worth about $46,000. Finally, Ayalon Holdings Ltd. purchased a new position in shares of NVIDIA in the 4th quarter worth about $48,000. Institutional investors and hedge funds own 68.72% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Deutsche Bank cut their price objective on NVIDIA from $260.00 to $190.00 and set a “hold” rating for the company in a report on Friday, November 16th. Royal Bank of Canada cut their price objective on NVIDIA to $260.00 and set an “outperform” rating for the company in a report on Friday, November 16th. Sanford C. Bernstein cut NVIDIA from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $250.00 to $175.00 in a report on Monday, February 11th. B. Riley reiterated a “neutral” rating and issued a $190.00 price objective (down from $240.00) on shares of NVIDIA in a report on Friday, November 16th. Finally, BidaskClub cut NVIDIA from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $210.62.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, February 14th. The computer hardware maker reported $0.80 EPS for the quarter, beating 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 return on equity of 41.78% and a net margin of 35.35%. NVIDIA’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.72 EPS. Equities research analysts forecast that NVIDIA Co. will post 4.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, February 28th. NVIDIA’s payout ratio is 10.54%.
In other NVIDIA news, EVP Debora Shoquist sold 6,345 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $135.33, for a total transaction of $858,668.85. Following the completion of the transaction, the executive vice president now owns 177,911 shares of the company’s stock, valued at approximately $24,076,695.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.70% of the company’s stock.
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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