Essex Financial Services Inc. cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 39.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,995 shares of the computer hardware maker’s stock after selling 2,587 shares during the period. Essex Financial Services Inc.’s holdings in NVIDIA were worth $773,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Buckley Wealth Management LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at about $737,000. Wealthstreet Investment Advisors LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at about $5,412,000. Sigma Planning Corp lifted its position in shares of NVIDIA by 24.9% in the fourth quarter. Sigma Planning Corp now owns 24,829 shares of the computer hardware maker’s stock valued at $4,804,000 after acquiring an additional 4,955 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of NVIDIA by 28.6% in the fourth quarter. LS Investment Advisors LLC now owns 13,902 shares of the computer hardware maker’s stock valued at $2,690,000 after acquiring an additional 3,095 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ lifted its position in shares of NVIDIA by 82.6% in the fourth quarter. Groesbeck Investment Management Corp NJ now owns 9,950 shares of the computer hardware maker’s stock valued at $1,925,000 after acquiring an additional 4,500 shares in the last quarter. Institutional investors own 62.70% of the company’s stock.
Shares of NVIDIA Co. (NVDA) opened at $232.08 on Monday. The company has a quick ratio of 7.34, a current ratio of 8.03 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $140,640.48, a P/E ratio of 50.02, a P/E/G ratio of 4.83 and a beta of 1.43. NVIDIA Co. has a twelve month low of $95.17 and a twelve month high of $249.27.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, February 8th. The computer hardware maker reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.56. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. NVIDIA had a return on equity of 45.02% and a net margin of 31.36%. NVIDIA’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 earnings per share. research analysts expect that NVIDIA Co. will post 4.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.26%. NVIDIA’s payout ratio is 12.45%.
Several brokerages have recently commented on NVDA. BidaskClub downgraded NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. Stifel Nicolaus lifted their target price on NVIDIA from $184.00 to $220.00 and gave the stock a “hold” rating in a report on Friday. They noted that the move was a valuation call. B. Riley lifted their target price on NVIDIA from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Friday. Bank of America reaffirmed a “buy” rating and issued a $300.00 target price (up from $275.00) on shares of NVIDIA in a report on Friday. Finally, BMO Capital Markets lifted their target price on NVIDIA from $200.00 to $225.00 and gave the stock a “market perform” rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $210.67.
In related news, Director Persis Drell sold 606 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $197.07, for a total value of $119,424.42. Following the completion of the sale, the director now owns 26,104 shares in the company, valued at $5,144,315.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 1,029 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $214.10, for a total value of $220,308.90. Following the completion of the sale, the director now owns 1,029 shares of the company’s stock, valued at approximately $220,308.90. The disclosure for this sale can be found here. Insiders sold 4,858 shares of company stock valued at $1,025,784 in the last quarter. 5.17% of the stock is owned by company insiders.
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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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