CIBC Asset Management Inc raised its position in NVIDIA Co. (NASDAQ:NVDA) by 2.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 83,702 shares of the computer hardware maker’s stock after purchasing an additional 1,831 shares during the period. CIBC Asset Management Inc’s holdings in NVIDIA were worth $13,746,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Thor Advisors LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at $29,000. Harvest Group Wealth Management LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at $30,000. Field & Main Bank bought a new stake in shares of NVIDIA in the 2nd quarter valued at $33,000. Sound Income Strategies LLC increased its stake in shares of NVIDIA by 96.2% in the 2nd quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in shares of NVIDIA by 181.2% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 194 shares of the computer hardware maker’s stock valued at $35,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 66.93% of the company’s stock.
In other news, CFO Colette Kress sold 2,236 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $164.01, for a total transaction of $366,726.36. Following the completion of the transaction, the chief financial officer now directly owns 239,710 shares in the company, valued at $39,314,837.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $145.10, for a total value of $14,510,000.00. Following the completion of the sale, the director now owns 32,983 shares of the company’s stock, valued at $4,785,833.30. The disclosure for this sale can be found here. Insiders have sold 112,236 shares of company stock valued at $16,570,776 over the last 90 days. Corporate insiders own 4.64% of the company’s stock.A number of brokerages have commented on NVDA. SunTrust Banks set a $210.00 price target on shares of NVIDIA and gave the company a “buy” rating in a research note on Friday, August 16th. BMO Capital Markets restated a “market perform” rating and set a $145.00 price target on shares of NVIDIA in a research note on Friday, August 16th. Daiwa Capital Markets set a $200.00 target price on shares of NVIDIA and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Susquehanna Bancshares set a $190.00 price objective on shares of NVIDIA and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Barclays decreased their price target on NVIDIA from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $190.40.
NVIDIA stock traded up $0.50 on Wednesday, hitting $162.30. 3,598,780 shares of the stock traded hands, compared to its average volume of 11,049,089. The company has a current ratio of 8.65, a quick ratio of 7.74 and a debt-to-equity ratio of 0.24. The firm has a market cap of $98.93 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 4.16 and a beta of 2.07. The business’s fifty day simple moving average is $164.31 and its 200 day simple moving average is $164.14. NVIDIA Co. has a 1 year low of $124.46 and a 1 year high of $292.76.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, beating the consensus estimate of $0.87 by $0.37. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.55 billion. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The company’s revenue for the quarter was down 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 earnings per share. As a group, analysts predict that NVIDIA Co. will post 4.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 29th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.39%. NVIDIA’s payout ratio is presently 10.54%.
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.
Receive News & Ratings for NVIDIA Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NVIDIA and related companies with MarketBeat.com’s FREE daily email newsletter.