SevenBridge Financial Group LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 111.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,109 shares of the computer hardware maker’s stock after purchasing an additional 2,169 shares during the quarter. SevenBridge Financial Group LLC’s holdings in NVIDIA were worth $715,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of NVDA. Pacific Wealth Strategies Group Inc. grew its position in NVIDIA by 7.2% during the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 5,368 shares of the computer hardware maker’s stock worth $934,000 after acquiring an additional 360 shares during the last quarter. Gulf International Bank UK Ltd grew its position in NVIDIA by 2.3% during the 3rd quarter. Gulf International Bank UK Ltd now owns 138,343 shares of the computer hardware maker’s stock worth $24,081,000 after acquiring an additional 3,159 shares during the last quarter. Northstar Investment Advisors LLC grew its position in NVIDIA by 7.8% during the 3rd quarter. Northstar Investment Advisors LLC now owns 30,682 shares of the computer hardware maker’s stock worth $5,140,000 after acquiring an additional 2,207 shares during the last quarter. Enterprise Bank & Trust Co grew its position in NVIDIA by 5.7% during the 3rd quarter. Enterprise Bank & Trust Co now owns 5,043 shares of the computer hardware maker’s stock worth $878,000 after acquiring an additional 274 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. bought a new stake in NVIDIA during the 3rd quarter worth $317,000. Institutional investors own 64.38% of the company’s stock.
In other news, CFO Colette Kress sold 31,357 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $179.01, for a total value of $5,613,216.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $167.36, for a total value of $418,400.00. Following the completion of the transaction, the director now directly owns 18,184 shares in the company, valued at $3,043,274.24. The disclosure for this sale can be found here. Insiders sold a total of 68,883 shares of company stock worth $12,042,217 over the last three months. 4.64% of the stock is owned by company insiders.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.37. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The firm’s revenue was down 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 EPS. As a group, research analysts anticipate that NVIDIA Co. will post 4.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, August 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Wednesday, August 28th. NVIDIA’s dividend payout ratio is 10.54%.
A number of equities research analysts recently weighed in on the company. Barclays reduced their price objective on NVIDIA from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Wells Fargo & Co restated a “buy” rating on shares of NVIDIA in a research report on Monday, August 12th. Susquehanna Bancshares set a $190.00 price objective on NVIDIA and gave the stock a “buy” rating in a research report on Friday, August 16th. Oppenheimer set a $190.00 price objective on NVIDIA and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada boosted their price objective on NVIDIA from $190.00 to $217.00 and gave the stock an “outperform” rating in a research report on Monday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $189.45.
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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