Parametric Portfolio Associates LLC Sells 65,805 Shares of NVIDIA Co. (NASDAQ:NVDA)
Parametric Portfolio Associates LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,294,340 shares of the computer hardware maker’s stock after selling 65,805 shares during the period. Parametric Portfolio Associates LLC’s holdings in NVIDIA were worth $212,569,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Thor Advisors LLC acquired a new position in NVIDIA during the first quarter worth $29,000. Harvest Group Wealth Management LLC acquired a new position in shares of NVIDIA during the first quarter worth approximately $30,000. Field & Main Bank bought a new position in NVIDIA in the 2nd quarter worth approximately $33,000. Sound Income Strategies LLC grew its holdings in NVIDIA by 96.2% in the 2nd quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock worth $34,000 after buying an additional 100 shares in the last quarter. Finally, Semmax Financial Advisors Inc. increased its position in NVIDIA by 935.0% in the 1st quarter. Semmax Financial Advisors Inc. now owns 207 shares of the computer hardware maker’s stock valued at $37,000 after acquiring an additional 187 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on NVDA. Needham & Company LLC reiterated a “sell” rating on shares of NVIDIA in a research report on Friday, August 16th. JPMorgan Chase & Co. set a $200.00 price target on NVIDIA and gave the company a “buy” rating in a report on Friday, August 16th. Daiwa Capital Markets set a $200.00 price objective on shares of NVIDIA and gave the company a “buy” rating in a research note on Wednesday, August 21st. BidaskClub upgraded shares of NVIDIA from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada decreased their target price on shares of NVIDIA from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $190.40.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.37. NVIDIA had a net margin of 26.93% and a return on equity of 24.40%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. NVIDIA’s revenue was down 17.4% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 4.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, August 29th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Wednesday, August 28th. NVIDIA’s payout ratio is 10.54%.
In other NVIDIA news, CFO Colette Kress sold 2,236 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $164.01, for a total value of $366,726.36. Following the completion of the transaction, the chief financial officer now directly owns 239,710 shares of the company’s stock, valued at approximately $39,314,837.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dawn E. Hudson sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the transaction, the director now owns 36,037 shares of the company’s stock, valued at $6,188,634.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,597 shares of company stock valued at $19,452,252. 4.64% of the stock is currently owned by corporate insiders.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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