Raymond James Trust N.A. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,378 shares of the computer hardware maker’s stock after purchasing an additional 883 shares during the quarter. Raymond James Trust N.A.’s holdings in NVIDIA were worth $9,947,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado increased its position in shares of NVIDIA by 5.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 110,437 shares of the computer hardware maker’s stock worth $29,111,000 after purchasing an additional 5,634 shares in the last quarter. Cohen & Steers Inc. acquired a new stake in shares of NVIDIA during the 1st quarter worth about $111,000. Enterprise Financial Services Corp increased its position in shares of NVIDIA by 20.0% during the 1st quarter. Enterprise Financial Services Corp now owns 601 shares of the computer hardware maker’s stock worth $159,000 after purchasing an additional 100 shares in the last quarter. APG Asset Management N.V. increased its position in shares of NVIDIA by 97.7% during the 1st quarter. APG Asset Management N.V. now owns 784,446 shares of the computer hardware maker’s stock worth $206,780,000 after purchasing an additional 387,647 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of NVIDIA by 17.3% during the 1st quarter. Advisors Asset Management Inc. now owns 29,615 shares of the computer hardware maker’s stock worth $7,807,000 after purchasing an additional 4,358 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. BidaskClub cut shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Sanford C. Bernstein increased their price objective on shares of NVIDIA from $415.00 to $545.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Jefferies Financial Group increased their price objective on shares of NVIDIA from $570.00 to $680.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Barclays increased their price objective on shares of NVIDIA from $450.00 to $525.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Finally, Cascend Securities increased their price objective on shares of NVIDIA from $560.00 to $590.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-one have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $521.49.
Shares of NVIDIA stock opened at $552.46 on Friday. The firm has a 50-day moving average of $521.45 and a 200-day moving average of $401.87. The stock has a market cap of $340.87 billion, a PE ratio of 101.56, a PEG ratio of 4.10 and a beta of 1.55. NVIDIA Co. has a 52-week low of $180.68 and a 52-week high of $589.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.51 and a current ratio of 6.09.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.21. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. NVIDIA had a net margin of 25.93% and a return on equity of 30.41%. NVIDIA’s quarterly revenue was up 50.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 earnings per share. Equities research analysts predict that NVIDIA Co. will post 6.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Wednesday, September 2nd were given a $0.16 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.12%. NVIDIA’s payout ratio is presently 13.94%.
NVIDIA Company Profile
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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