Welch Group LLC lowered its position in Nvidia Corp. (NASDAQ:NVDA) by 56.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,835 shares of the computer hardware maker’s stock after selling 3,696 shares during the period. Welch Group LLC’s holdings in Nvidia Corp. were worth $133,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Aviance Capital Management LLC acquired a new position in shares of Nvidia Corp. during the second quarter valued at approximately $200,000. Raymond James Trust N.A. acquired a new position in shares of Nvidia Corp. during the second quarter valued at approximately $224,000. Cim LLC acquired a new position in shares of Nvidia Corp. during the second quarter valued at approximately $232,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Nvidia Corp. by 920.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,100 shares of the computer hardware maker’s stock valued at $240,000 after buying an additional 4,600 shares in the last quarter. Finally, Hollencrest Securities LLC acquired a new position in shares of Nvidia Corp. during the second quarter valued at approximately $245,000. Institutional investors and hedge funds own 86.37% of the company’s stock.
Nvidia Corp. (NASDAQ:NVDA) traded down 0.22% during trading on Tuesday, hitting $68.30. 7,037,711 shares of the stock were exchanged. The firm has a market cap of $36.54 billion, a PE ratio of 44.88 and a beta of 1.25. Nvidia Corp. has a 12-month low of $24.75 and a 12-month high of $69.70. The stock’s 50-day moving average price is $63.15 and its 200-day moving average price is $49.28.
Nvidia Corp. (NASDAQ:NVDA) last released its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.16. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. During the same quarter last year, the company earned $0.34 EPS. Nvidia Corp.’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities analysts expect that Nvidia Corp. will post $1.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, August 25th were given a dividend of $0.115 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. Nvidia Corp.’s dividend payout ratio (DPR) is 30.26%.
Several brokerages have commented on NVDA. B. Riley reissued a “buy” rating and issued a $58.00 price target on shares of Nvidia Corp. in a research report on Monday, July 11th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Nvidia Corp. in a research report on Wednesday, June 15th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the company. Nvidia Corp. presently has a consensus rating of “Hold” and an average price target of $58.60.
In other news, insider Jen Hsun Huang sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $58.66, for a total transaction of $2,346,400.00. Following the completion of the transaction, the insider now owns 1,817,279 shares in the company, valued at approximately $106,601,586.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael Byron sold 409 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $63.35, for a total transaction of $25,910.15. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
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.
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