Beck Capital Management LLC Sells 7,690 Shares of NVIDIA Corporation (NVDA)
Beck Capital Management LLC decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 17.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,539 shares of the computer hardware maker’s stock after selling 7,690 shares during the period. NVIDIA makes up 3.1% of Beck Capital Management LLC’s holdings, making the stock its 5th biggest position. Beck Capital Management LLC’s holdings in NVIDIA were worth $6,532,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Lido Advisors LLC increased its position in NVIDIA by 26.2% during the 3rd quarter. Lido Advisors LLC now owns 4,320 shares of the computer hardware maker’s stock worth $893,000 after buying an additional 897 shares during the period. B. Riley Financial Inc. bought a new position in NVIDIA during the 3rd quarter worth $1,031,000. Caisse DE Depot ET Placement DU Quebec increased its position in NVIDIA by 276.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 48,878 shares of the computer hardware maker’s stock worth $8,775,000 after buying an additional 35,900 shares during the period. Engineers Gate Manager LP increased its position in NVIDIA by 373.9% during the 3rd quarter. Engineers Gate Manager LP now owns 7,956 shares of the computer hardware maker’s stock worth $1,422,000 after buying an additional 6,277 shares during the period. Finally, Northeast Investment Management increased its position in NVIDIA by 43.0% during the 3rd quarter. Northeast Investment Management now owns 30,094 shares of the computer hardware maker’s stock worth $5,380,000 after buying an additional 9,054 shares during the period. Hedge funds and other institutional investors own 63.51% of the company’s stock.
Several research firms have weighed in on NVDA. SunTrust Banks increased their price objective on NVIDIA to $253.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price objective on shares of NVIDIA in a research report on Friday, November 10th. Bank of America increased their price objective on NVIDIA from $210.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Barclays raised their price target on NVIDIA from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th. Finally, Raymond James Financial raised their price target on NVIDIA and gave the stock an “outperform” rating in a research report on Friday, November 10th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $187.38.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.39. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. NVIDIA had a return on equity of 42.71% and a net margin of 28.78%. The firm’s quarterly revenue was up 31.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share. sell-side analysts anticipate that NVIDIA Corporation will post 4.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a $0.15 dividend. This is a positive change from NVIDIA’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Wednesday, November 22nd. NVIDIA’s payout ratio is currently 14.89%.
In related news, insider Michael Byron sold 9,538 shares of NVIDIA stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $179.80, for a total value of $1,714,932.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dawn E. Hudson sold 3,052 shares of NVIDIA stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $214.39, for a total value of $654,318.28. Following the completion of the transaction, the director now directly owns 28,816 shares in the company, valued at $6,177,862.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,175 shares of company stock worth $59,428,079. 5.17% of the stock is owned by insiders.
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NVIDIA Company Profile
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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