1 day Ago By ABMN Staff
Verdence Capital Advisors LLC raised its stake in shares of NVIDIA Co. ( NASDAQ:NVDA – Free Report ) by 920.8% during the 2nd quarter, HoldingsChannel reports.
The firm owned 70,006 shares of the computer hardware maker’s stock after purchasing an additional 63,148 shares during the quarter. NVIDIA comprises 0.8% of Verdence Capital Advisors LLC’s holdings, making the stock its 23rd biggest position.
Verdence Capital Advisors LLC’s holdings in NVIDIA were worth $8,648,000 as of its most recent filing with the Securities & Exchange Commission. Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Paulson Wealth Management Inc.
grew its holdings in NVIDIA by 935.8% during the second quarter. Paulson Wealth Management Inc.
now owns 7,489 shares of the computer hardware maker’s stock valued at $925,000 after purchasing an additional 6,766 shares during the last quarter. Amica Mutual Insurance Co. grew its holdings in NVIDIA by 900.
0% during the second quarter. Amica Mutual Insurance Co. now owns 369,120 shares of the computer hardware maker’s stock valued at $45,601,000 after purchasing an additional 332,208 shares during the last quarter.
AlphaCentric Advisors LLC grew its holdings in NVIDIA by 8,736.8% during the second quarter. AlphaCentric Advisors LLC now owns 6,009 shares of the computer hardware maker’s stock valued at $742,000 after purchasing an additional 5,941 shares during the last quarter.
Bank of New York Mellon Corp grew its holdings in NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter.
Finally, Catalyst Financial Partners LLC grew its holdings in NVIDIA by 1,002.1% during the second quarter. Catalyst Financial Partners LLC now owns 106,387 shares of the computer hardware maker’s stock valued at $13,143,000 after purchasing an additional 96,734 shares during the last quarter.
Institutional investors and hedge funds own 65.27% of the company’s stock. NVIDIA Stock Down 1.
0 % Shares of NVDA opened at $115.59 on Wednesday. The company has a market capitalization of $2.
84 trillion, a P/E ratio of 67.60, a PEG ratio of 1.06 and a beta of 1.
67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.
27 and a quick ratio of 3.79. NVIDIA Co.
has a one year low of $39.23 and a one year high of $140.76.
The business’s 50 day simple moving average is $116.88 and its 200-day simple moving average is $106.63.
NVIDIA Cuts Dividend The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share.
This represents a $0.04 annualized dividend and a yield of 0.03%.
The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio is 2.34%.
NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.
6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued. Analyst Upgrades and Downgrades Several brokerages have commented on NVDA.
Truist Financial increased their price target on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th.
Tigress Financial raised their price objective on shares of NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th.
Robert W. Baird raised their price objective on shares of NVIDIA from $120.00 to $150.
00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Bank of America restated a “buy” rating and issued a $165.00 price objective on shares of NVIDIA in a research note on Thursday, September 5th.
Finally, Mizuho raised their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th.
Five research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.
Get Our Latest Report on NVDA Insiders Place Their Bets In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, June 21st.
The stock was sold at an average price of $128.17, for a total transaction of $576,765.00.
Following the transaction, the insider now owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link .
In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.
00. Following the transaction, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65.
The transaction was disclosed in a document filed with the SEC, which can be accessed through this link . Also, insider Donald F. Robertson, Jr.
sold 4,500 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.
00. Following the completion of the transaction, the insider now directly owns 503,878 shares in the company, valued at approximately $64,582,043.26.
The disclosure for this sale can be found here . In the last quarter, insiders have sold 3,845,633 shares of company stock valued at $465,330,122. 4.
23% of the stock is currently owned by corporate insiders. NVIDIA Profile ( Free Report ) NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
Recommended Stories Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. ( NASDAQ:NVDA – Free Report ).
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