Welch & Forbes LLC lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,988 shares of the computer hardware maker’s stock after selling 212 shares during the period. Welch & Forbes LLC’s holdings in NVIDIA were worth $34,812,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Rockland Trust Co. bought a new stake in shares of NVIDIA in the third quarter valued at approximately $206,000. E&G Advisors LP bought a new stake in shares of NVIDIA in the third quarter valued at approximately $214,000. Country Trust Bank bought a new stake in shares of NVIDIA in the third quarter valued at approximately $24,031,000. Truvestments Capital LLC boosted its stake in shares of NVIDIA by 35.7% in the third quarter. Truvestments Capital LLC now owns 2,935 shares of the computer hardware maker’s stock valued at $511,000 after buying an additional 772 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of NVIDIA by 11.9% in the third quarter. Pacer Advisors Inc. now owns 107,231 shares of the computer hardware maker’s stock valued at $18,666,000 after buying an additional 11,392 shares during the period. Institutional investors own 64.38% of the company’s stock.
Shares of NASDAQ:NVDA traded up $4.98 during trading on Friday, hitting $188.01. 737,245 shares of the company were exchanged, compared to its average volume of 7,963,187. The business’s 50 day moving average is $174.56 and its 200-day moving average is $167.80. The company has a market capitalization of $114.43 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 4.56 and a beta of 2.05. The company has a quick ratio of 7.74, a current ratio of 8.65 and a debt-to-equity ratio of 0.24. NVIDIA Co. has a 1-year low of $124.46 and a 1-year high of $249.88.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.37. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. NVIDIA had a net margin of 26.93% and a return on equity of 24.40%. The company’s revenue for the quarter was down 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.94 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 4.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, August 29th were issued a $0.16 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.34%. NVIDIA’s payout ratio is 10.54%.
In other NVIDIA news, CFO Colette Kress sold 31,357 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $179.01, for a total transaction of $5,613,216.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Persis Drell sold 2,500 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $167.36, for a total value of $418,400.00. Following the sale, the director now owns 18,184 shares of the company’s stock, valued at $3,043,274.24. The disclosure for this sale can be found here. Insiders sold 68,883 shares of company stock valued at $12,042,217 over the last 90 days. 4.64% of the stock is currently owned by company insiders.
NVDA has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and issued a $210.00 price target on shares of NVIDIA in a research note on Wednesday, August 21st. Susquehanna Bancshares set a $190.00 price target on NVIDIA and gave the company a “buy” rating in a research note on Friday, August 16th. Nomura reiterated a “hold” rating on shares of NVIDIA in a research note on Friday, August 23rd. BMO Capital Markets reiterated a “market perform” rating and issued a $145.00 price target on shares of NVIDIA in a research note on Friday, August 16th. Finally, Craig Hallum reiterated a “hold” rating and issued a $170.00 price target (up from $165.00) on shares of NVIDIA in a research note on Friday, August 16th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $189.45.
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.
Recommended Story: Are sell-side analysts objective?
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.