Sunburst Financial Group LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 512 shares of the computer hardware maker’s stock, valued at approximately $277,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVDA. Public Employees Retirement Association of Colorado lifted its holdings in NVIDIA by 5.4% in 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 buying an additional 5,634 shares during the period. Cohen & Steers Inc. purchased a new stake in NVIDIA in the 1st quarter worth approximately $111,000. APG Asset Management N.V. lifted its holdings in NVIDIA by 97.7% in 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 buying an additional 387,647 shares during the period. CIBC World Markets Inc. lifted its holdings in NVIDIA by 36.5% in the 1st quarter. CIBC World Markets Inc. now owns 65,905 shares of the computer hardware maker’s stock worth $17,373,000 after buying an additional 17,610 shares during the period. Finally, Morgan Stanley lifted its holdings in NVIDIA by 8.4% in the 1st quarter. Morgan Stanley now owns 2,509,795 shares of the computer hardware maker’s stock worth $661,582,000 after buying an additional 195,455 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.
Several equities research analysts have weighed in on the company. 140166 increased their price objective on NVIDIA from $450.00 to $540.00 and gave the stock a “positive” rating in a report on Monday, August 17th. Citigroup raised their target price on NVIDIA from $392.00 to $540.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Wells Fargo & Company raised their target price on NVIDIA from $535.00 to $605.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Truist raised their target price on NVIDIA from $550.00 to $623.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Finally, BMO Capital Markets raised their target price on NVIDIA from $565.00 to $650.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-one have issued a buy rating to the stock. NVIDIA has an average rating of “Buy” and a consensus price target of $521.49.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 19th. The computer hardware maker reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. NVIDIA’s revenue was up 50.1% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Co. will post 6.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Wednesday, September 2nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, September 1st. NVIDIA’s payout ratio is currently 13.94%.
In other news, Director Stephen C. Neal acquired 435 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was bought at an average price of $498.23 per share, with a total value of $216,730.05. Following the completion of the acquisition, the director now directly owns 3,963 shares of the company’s stock, valued at approximately $1,974,485.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 12,692 shares of NVIDIA stock in a transaction on Friday, July 24th. The stock was sold at an average price of $405.60, for a total value of $5,147,875.20. Following the completion of the sale, the executive vice president now directly owns 61,983 shares of the company’s stock, valued at approximately $25,140,304.80. The disclosure for this sale can be found here. Insiders sold 173,320 shares of company stock valued at $87,129,970 in the last ninety days. 4.47% of the stock is currently owned by corporate insiders.
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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