NVIDIA Corporation (NVDA) Stake Lessened by Synovus Financial Corp
Synovus Financial Corp cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 34.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,168 shares of the computer hardware maker’s stock after selling 4,253 shares during the period. Synovus Financial Corp’s holdings in NVIDIA were worth $1,458,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of NVDA. Bbva Compass Bancshares Inc. purchased a new stake in shares of NVIDIA during the second quarter valued at $343,000. Bessemer Group Inc. grew its holdings in shares of NVIDIA by 112.0% during the second quarter. Bessemer Group Inc. now owns 6,910 shares of the computer hardware maker’s stock valued at $1,000,000 after buying an additional 3,650 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in shares of NVIDIA during the second quarter valued at $376,000. Tdam USA Inc. grew its holdings in shares of NVIDIA by 7.5% during the second quarter. Tdam USA Inc. now owns 4,143 shares of the computer hardware maker’s stock valued at $608,000 after buying an additional 290 shares during the last quarter. Finally, TD Asset Management Inc. grew its holdings in shares of NVIDIA by 0.6% during the second quarter. TD Asset Management Inc. now owns 246,832 shares of the computer hardware maker’s stock valued at $35,682,000 after buying an additional 1,590 shares during the last quarter. 63.51% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Dawn E. Hudson sold 3,052 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $214.39, for a total transaction of $654,318.28. Following the completion of the transaction, the director now owns 28,816 shares in the company, valued at approximately $6,177,862.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 1,029 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $214.10, for a total transaction of $220,308.90. Following the transaction, the director now owns 1,029 shares of the company’s stock, valued at approximately $220,308.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,175 shares of company stock valued at $59,428,079. Insiders own 5.82% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.39. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue for the quarter was up 31.5% on a year-over-year basis. research analysts predict that NVIDIA Corporation will post 4.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.15 per share. This is a positive change from NVIDIA’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Wednesday, November 22nd. NVIDIA’s dividend payout ratio is presently 14.89%.
A number of equities research analysts have recently weighed in on NVDA shares. Raymond James Financial boosted their price objective on shares of NVIDIA and gave the company an “outperform” rating in a report on Friday, November 10th. Bank of America set a $210.00 price objective on shares of NVIDIA and gave the company a “buy” rating in a report on Thursday, October 12th. Canaccord Genuity reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Friday, September 8th. Royal Bank Of Canada boosted their price objective on shares of NVIDIA from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Goldman Sachs Group boosted their price objective on shares of NVIDIA from $193.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 11th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $187.38.
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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