Westover Capital Advisors LLC Sells 1,866 Shares of NVIDIA Corporation (NVDA)
Westover Capital Advisors LLC lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 19.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,753 shares of the computer hardware maker’s stock after selling 1,866 shares during the period. Westover Capital Advisors LLC’s holdings in NVIDIA Corporation were worth $1,121,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Cibc World Markets Corp boosted its holdings in shares of NVIDIA Corporation by 12.1% in the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after buying an additional 13,802 shares during the period. Meiji Yasuda Life Insurance Co boosted its holdings in shares of NVIDIA Corporation by 9.9% in the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after buying an additional 1,000 shares during the period. RB Capital Management LLC acquired a new position in shares of NVIDIA Corporation in the second quarter worth about $272,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of NVIDIA Corporation by 17.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after buying an additional 2,836 shares during the period. Finally, D. Scott Neal Inc. acquired a new position in shares of NVIDIA Corporation in the second quarter worth about $258,000. 65.79% of the stock is currently owned by institutional investors.
NVIDIA Corporation (NASDAQ:NVDA) traded up 0.07% during mid-day trading on Friday, reaching $180.89. The company had a trading volume of 4,491,921 shares. The firm has a market capitalization of $108.53 billion, a P/E ratio of 52.02 and a beta of 1.28. The firm’s 50-day moving average is $171.68 and its 200-day moving average is $144.85. NVIDIA Corporation has a one year low of $63.70 and a one year high of $191.20.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. NVIDIA Corporation’s revenue was up 56.2% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Corporation will post $3.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Thursday, August 24th were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.56 annualized dividend and a yield of 0.31%. NVIDIA Corporation’s dividend payout ratio is currently 15.86%.
In other NVIDIA Corporation news, Director Mark L. Perry sold 16,281 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $162.24, for a total value of $2,641,429.44. Following the transaction, the director now owns 48,069 shares of the company’s stock, valued at $7,798,714.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Byron sold 409 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $171.01, for a total value of $69,943.09. Following the completion of the transaction, the insider now directly owns 136,199 shares in the company, valued at approximately $23,291,390.99. The disclosure for this sale can be found here. In the last three months, insiders sold 496,478 shares of company stock worth $85,901,012. Insiders own 5.82% of the company’s stock.
NVDA has been the subject of several research reports. Mizuho restated a “buy” rating and set a $180.00 price target (up from $170.00) on shares of NVIDIA Corporation in a report on Friday, August 11th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $140.00 price target on shares of NVIDIA Corporation in a report on Wednesday, August 16th. Bank of America Corporation restated a “buy” rating and set a $185.00 price target on shares of NVIDIA Corporation in a report on Wednesday, June 21st. Vetr cut shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price target for the company. in a report on Thursday, August 31st. Finally, Zacks Investment Research upgraded shares of NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price target for the company in a report on Tuesday, July 11th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $155.31.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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.
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