Nvidia Corp. (NVDA) Stake Decreased by Trinity Street Asset Management LLP
Trinity Street Asset Management LLP lowered its stake in Nvidia Corp. (NASDAQ:NVDA) by 46.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 301,891 shares of the computer hardware maker’s stock after selling 261,472 shares during the period. Nvidia Corp. comprises about 3.6% of Trinity Street Asset Management LLP’s portfolio, making the stock its 15th largest position. Trinity Street Asset Management LLP owned 0.06% of Nvidia Corp. worth $20,685,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. West Oak Capital LLC raised its stake in shares of Nvidia Corp. by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock valued at $107,000 after buying an additional 1,010 shares in the last quarter. Brick & Kyle Associates raised its stake in shares of Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock valued at $118,000 after buying an additional 502 shares in the last quarter. Compagnie Lombard Odier SCmA raised its stake in shares of Nvidia Corp. by 72.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 3,365 shares of the computer hardware maker’s stock valued at $159,000 after buying an additional 1,415 shares in the last quarter. Aviance Capital Management LLC purchased a new stake in shares of Nvidia Corp. during the second quarter valued at about $200,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Nvidia Corp. during the second quarter valued at about $201,000. 86.85% of the stock is owned by institutional investors.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded down 0.41% during trading on Monday, hitting $92.98. The stock had a trading volume of 10,905,798 shares. The firm has a market cap of $50.02 billion, a price-to-earnings ratio of 47.51 and a beta of 1.17. The firm’s 50-day moving average is $71.29 and its 200 day moving average is $57.50. Nvidia Corp. has a 52-week low of $24.75 and a 52-week high of $94.79.
Nvidia Corp. (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.37. The company earned $2 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Nvidia Corp. had a return on equity of 26.82% and a net margin of 19.52%. Nvidia Corp.’s quarterly revenue was up 53.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, analysts expect that Nvidia Corp. will post $2.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be issued a $0.14 dividend. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, November 23rd. This represents a $0.56 dividend on an annualized basis and a yield of 0.60%. Nvidia Corp.’s dividend payout ratio is presently 24.08%.
NVDA has been the subject of several research reports. RBC Capital Markets upped their target price on Nvidia Corp. to $95.00 in a research note on Friday, November 11th. B. Riley reaffirmed a “buy” rating and issued a $64.50 target price on shares of Nvidia Corp. in a research note on Tuesday, July 26th. Roth Capital set a $68.00 target price on Nvidia Corp. and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Jefferies Group upped their target price on Nvidia Corp. from $56.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Finally, Mizuho upped their target price on Nvidia Corp. to $66.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $71.58.
In related news, Director A Brooke Seawell sold 35,000 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $87.74, for a total value of $3,070,900.00. Following the completion of the transaction, the director now owns 41,213 shares of the company’s stock, valued at approximately $3,616,028.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Byron sold 409 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $63.35, for a total value of $25,910.15. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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