Boenning & Scattergood Inc. Has $2.01 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Boenning & Scattergood Inc. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDAGet Rating) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,282 shares of the computer hardware maker’s stock after selling 171 shares during the period. Boenning & Scattergood Inc.’s holdings in NVIDIA were worth $2,013,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Resonant Capital Advisors LLC lifted its position in shares of NVIDIA by 6.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 1,796 shares of the computer hardware maker’s stock worth $480,000 after purchasing an additional 116 shares during the period. GenTrust LLC lifted its position in shares of NVIDIA by 16.4% in the 1st quarter. GenTrust LLC now owns 2,844 shares of the computer hardware maker’s stock worth $776,000 after purchasing an additional 400 shares during the period. Relyea Zuckerberg Hanson LLC lifted its position in shares of NVIDIA by 16.6% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 2,124 shares of the computer hardware maker’s stock worth $472,000 after purchasing an additional 303 shares during the period. Lannebo Fonder AB lifted its position in shares of NVIDIA by 5.9% in the 1st quarter. Lannebo Fonder AB now owns 90,000 shares of the computer hardware maker’s stock worth $24,557,000 after purchasing an additional 5,000 shares during the period. Finally, Secure Asset Management LLC lifted its position in shares of NVIDIA by 6.3% in the 1st quarter. Secure Asset Management LLC now owns 12,304 shares of the computer hardware maker’s stock worth $3,357,000 after purchasing an additional 731 shares during the period. 62.58% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 5.3 %

Shares of NVIDIA stock opened at $125.61 on Friday. The company’s 50-day moving average price is $162.82 and its 200-day moving average price is $185.71. The company has a market cap of $312.77 billion, a price-to-earnings ratio of 41.18, a PEG ratio of 4.35 and a beta of 1.69. NVIDIA Co. has a 12-month low of $124.28 and a 12-month high of $346.47. The company has a current ratio of 3.62, a quick ratio of 3.11 and a debt-to-equity ratio of 0.41.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its earnings results on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts expect that NVIDIA Co. will post 2.49 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 8th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Wednesday, September 7th. NVIDIA’s dividend payout ratio is presently 5.25%.

Analysts Set New Price Targets

Several analysts have recently weighed in on NVDA shares. Morgan Stanley lowered their price objective on shares of NVIDIA from $217.00 to $182.00 and set an “equal weight” rating for the company in a research note on Thursday, May 26th. Benchmark lowered their price objective on shares of NVIDIA from $228.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. Craig Hallum lowered their price objective on shares of NVIDIA from $180.00 to $165.00 and set a “hold” rating for the company in a research note on Thursday, August 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $320.00 price objective on shares of NVIDIA in a research note on Thursday, August 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of NVIDIA from $175.00 to $165.00 and set a “hold” rating for the company in a research note on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $214.91.

NVIDIA Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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