JCIC Asset Management Inc. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 265.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,628 shares of the computer hardware maker’s stock after buying an additional 1,183 shares during the period. JCIC Asset Management Inc.’s holdings in NVIDIA were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Marquette Asset Management LLC boosted its holdings in NVIDIA by 300.0% during the third quarter. Marquette Asset Management LLC now owns 120 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 90 shares during the last quarter. Global Trust Asset Management LLC boosted its holdings in NVIDIA by 300.0% during the third quarter. Global Trust Asset Management LLC now owns 124 shares of the computer hardware maker’s stock worth $26,000 after buying an additional 93 shares during the last quarter. PrairieView Partners LLC boosted its holdings in NVIDIA by 300.0% during the third quarter. PrairieView Partners LLC now owns 200 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 150 shares during the last quarter. Regency Capital Management Inc. DE bought a new position in NVIDIA during the first quarter worth about $43,000. Finally, Perkins Coie Trust Co boosted its holdings in NVIDIA by 151.7% during the third quarter. Perkins Coie Trust Co now owns 224 shares of the computer hardware maker’s stock worth $46,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.
A number of brokerages have issued reports on NVDA. Susquehanna raised their target price on NVIDIA from $250.00 to $360.00 and gave the stock a “positive” rating in a report on Thursday, November 11th. Credit Suisse Group lifted their price objective on NVIDIA from $225.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, November 16th. Evercore ISI lifted their price objective on NVIDIA from $187.50 to $250.00 and gave the company an “outperform” rating in a report on Thursday, August 12th. Zacks Investment Research upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $231.00 price objective on the stock in a report on Tuesday, August 24th. Finally, KeyCorp lifted their price objective on NVIDIA from $260.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, November 18th. Three research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $326.78.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 17th. The computer hardware maker reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.06. NVIDIA had a return on equity of 40.88% and a net margin of 32.33%. During the same quarter last year, the business posted $0.60 EPS. As a group, research analysts predict that NVIDIA Co. will post 3.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 23rd. Investors of record on Thursday, December 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date of this dividend is Wednesday, December 1st. NVIDIA’s payout ratio is presently 5.70%.
In related news, Director Persis Drell sold 10,000 shares of the business’s stock in a transaction on Friday, November 19th. The stock was sold at an average price of $326.65, for a total value of $3,266,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 58,000 shares of the business’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $342.58, for a total value of $19,869,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 78,000 shares of company stock worth $25,222,940 over the last three months. 4.47% of the stock is owned by insiders.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. 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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