Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,400 shares of the computer hardware maker’s stock, valued at approximately $324,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Columbus Circle Investors bought a new position in shares of NVIDIA during the first quarter valued at $27,868,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of NVIDIA by 1.1% during the first quarter. Municipal Employees Retirement System of Michigan now owns 31,040 shares of the computer hardware maker’s stock valued at $7,189,000 after acquiring an additional 350 shares during the period. Resource Management LLC bought a new position in shares of NVIDIA during the first quarter valued at $290,000. Spinnaker Trust bought a new position in shares of NVIDIA during the first quarter valued at $289,000. Finally, State Treasurer State of Michigan lifted its holdings in shares of NVIDIA by 0.3% during the first quarter. State Treasurer State of Michigan now owns 178,092 shares of the computer hardware maker’s stock valued at $41,244,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 65.03% of the company’s stock.
A number of research analysts have issued reports on the company. FBN Securities assumed coverage on NVIDIA in a report on Tuesday. They set an “outperform” rating and a $300.00 price objective for the company. Benchmark assumed coverage on NVIDIA in a report on Tuesday. They set a “buy” rating and a $280.00 price objective for the company. BidaskClub cut NVIDIA from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada lifted their price objective on NVIDIA from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, June 25th. Finally, Cowen assumed coverage on NVIDIA in a report on Thursday, May 17th. They set an “outperform” rating and a $325.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $264.62.
In other NVIDIA news, CFO Colette Kress sold 889 shares of the business’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $257.64, for a total transaction of $229,041.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James C. Gaither sold 45,000 shares of the business’s stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $253.59, for a total value of $11,411,550.00. Following the sale, the director now directly owns 9,234 shares of the company’s stock, valued at $2,341,650.06. The disclosure for this sale can be found here. Insiders have sold a total of 308,308 shares of company stock valued at $77,491,336 over the last three months. Company insiders own 4.70% of the company’s stock.
Shares of NASDAQ:NVDA opened at $236.90 on Friday. The stock has a market cap of $143.08 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 3.25 and a beta of 1.54. NVIDIA Co. has a 1-year low of $138.58 and a 1-year high of $269.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.54 and a quick ratio of 7.82.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 10th. The computer hardware maker reported $2.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.58. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $2.88 billion. NVIDIA had a return on equity of 52.18% and a net margin of 34.44%. The company’s quarterly revenue was up 65.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. sell-side analysts expect that NVIDIA Co. will post 7.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 24th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 23rd. This represents a $0.60 annualized dividend and a yield of 0.25%. NVIDIA’s dividend payout ratio is currently 12.85%.
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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