Tower Bridge Advisors lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 5.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,693 shares of the computer hardware maker’s stock after acquiring an additional 1,155 shares during the period. Tower Bridge Advisors’ holdings in NVIDIA were worth $3,288,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NVDA. GSA Capital Partners LLP purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $237,000. PDT Partners LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $882,000. Chilton Capital Management LLC increased its holdings in NVIDIA by 0.3% during the 4th quarter. Chilton Capital Management LLC now owns 88,210 shares of the computer hardware maker’s stock worth $25,943,000 after purchasing an additional 253 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in NVIDIA by 9.9% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 4,228 shares of the computer hardware maker’s stock worth $1,243,000 after purchasing an additional 380 shares during the last quarter. Finally, Monetary Management Group Inc. increased its holdings in NVIDIA by 1.5% during the 4th quarter. Monetary Management Group Inc. now owns 26,920 shares of the computer hardware maker’s stock worth $7,917,000 after purchasing an additional 385 shares during the last quarter. 62.58% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
NVDA has been the subject of several research reports. Citigroup decreased their target price on NVIDIA from $285.00 to $248.00 and set a “buy” rating for the company in a research report on Thursday, August 25th. Credit Suisse Group set a $205.00 target price on NVIDIA in a research report on Wednesday, August 31st. Rosenblatt Securities restated a “buy” rating and set a $320.00 price objective on shares of NVIDIA in a research report on Thursday, August 25th. The Goldman Sachs Group reduced their price objective on NVIDIA from $192.00 to $166.00 in a research report on Friday, July 15th. Finally, Craig Hallum reduced their price objective on NVIDIA from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Thursday, August 25th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.62.
NVIDIA Stock Down 0.7 %
Shares of NVIDIA stock opened at $121.39 on Monday. The stock’s fifty day moving average is $157.27 and its 200-day moving average is $180.67. The firm has a market capitalization of $302.26 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 3.91 and a beta of 1.72. The company has a quick ratio of 3.11, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. NVIDIA Co. has a 12-month low of $119.46 and a 12-month high of $346.47.
NVIDIA (NASDAQ:NVDA – Get Rating) last announced its earnings results on Wednesday, August 24th. The computer hardware maker reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.70 billion. NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.53 earnings per share for the current year.
NVIDIA Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Wednesday, September 7th. NVIDIA’s dividend payout ratio (DPR) is presently 5.25%.
NVIDIA Company Profile
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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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