Amalgamated Bank increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.7% in the fourth quarter, Holdings Channel reports. The firm owned 75,758 shares of the computer hardware maker’s stock after buying an additional 6,671 shares during the period. Amalgamated Bank’s holdings in NVIDIA were worth $14,659,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Welch Investments LLC acquired a new position in NVIDIA during the 3rd quarter valued at about $104,000. Country Trust Bank increased its position in NVIDIA by 490.0% during the 4th quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock valued at $114,000 after buying an additional 490 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in NVIDIA during the 4th quarter valued at about $116,000. North Star Investment Management Corp. increased its position in NVIDIA by 67.3% during the 4th quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock valued at $123,000 after buying an additional 255 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in NVIDIA during the 4th quarter valued at about $148,000. Hedge funds and other institutional investors own 61.46% of the company’s stock.
Several brokerages recently issued reports on NVDA. Stifel Nicolaus upped their target price on NVIDIA from $184.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, February 9th. They noted that the move was a valuation call. BidaskClub raised NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 11th. Bank of America reaffirmed a “buy” rating and set a $300.00 target price (up from $275.00) on shares of NVIDIA in a research report on Friday, February 9th. Citigroup upped their target price on NVIDIA from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, BMO Capital Markets upped their target price on NVIDIA from $90.00 to $135.00 and gave the company an “underperform” rating in a research report on Friday, November 10th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. NVIDIA presently has a consensus rating of “Buy” and a consensus target price of $210.97.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, February 8th. The computer hardware maker reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.56. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. NVIDIA had a return on equity of 45.02% and a net margin of 31.36%. NVIDIA’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 earnings per share. equities analysts forecast that NVIDIA Co. will post 6.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 23rd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. NVIDIA’s dividend payout ratio is currently 13.02%.
In other NVIDIA news, Director James C. Gaither sold 40,359 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $245.67, for a total transaction of $9,914,995.53. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 171 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $185.57, for a total value of $31,732.47. The disclosure for this sale can be found here. Insiders have sold 58,443 shares of company stock worth $14,010,937 in the last quarter. 5.17% of the stock is currently owned by company insiders.
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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