Wedmont Private Capital Acquires 3,983 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wedmont Private Capital lifted its holdings in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 31.5% during the second quarter, HoldingsChannel.com reports. The firm owned 16,623 shares of the computer hardware maker’s stock after purchasing an additional 3,983 shares during the period. Wedmont Private Capital’s holdings in NVIDIA were worth $2,520,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NVDA. Norges Bank bought a new stake in shares of NVIDIA in the fourth quarter worth $6,279,217,000. BlackRock Inc. increased its holdings in NVIDIA by 2.1% during the fourth quarter. BlackRock Inc. now owns 177,839,722 shares of the computer hardware maker’s stock worth $52,304,441,000 after buying an additional 3,591,440 shares during the last quarter. Vanguard Group Inc. increased its holdings in NVIDIA by 1.2% during the first quarter. Vanguard Group Inc. now owns 198,462,079 shares of the computer hardware maker’s stock worth $54,152,363,000 after buying an additional 2,446,529 shares during the last quarter. Brown Advisory Inc. increased its holdings in NVIDIA by 94.4% during the first quarter. Brown Advisory Inc. now owns 4,557,600 shares of the computer hardware maker’s stock worth $1,244,858,000 after buying an additional 2,213,090 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in NVIDIA by 43.3% during the first quarter. Fisher Asset Management LLC now owns 7,328,372 shares of the computer hardware maker’s stock worth $1,999,620,000 after buying an additional 2,212,941 shares during the last quarter. Institutional investors own 62.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Benchmark lowered their target price on shares of NVIDIA from $228.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, August 25th. Atlantic Securities lowered their target price on shares of NVIDIA to $205.00 in a report on Thursday, May 26th. Mizuho lowered their target price on shares of NVIDIA from $225.00 to $205.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group lowered their target price on shares of NVIDIA from $350.00 to $280.00 and set a “buy” rating on the stock in a report on Monday, May 23rd. Finally, StockNews.com downgraded shares of NVIDIA from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $216.68.

NVIDIA Trading Up 2.1 %

NVDA opened at $131.98 on Monday. NVIDIA Co. has a twelve month low of $126.17 and a twelve month high of $346.47. The company has a 50-day simple moving average of $164.50 and a 200 day simple moving average of $188.10. The company has a quick ratio of 3.11, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $328.63 billion, a price-to-earnings ratio of 43.27, a P/E/G ratio of 4.33 and a beta of 1.69.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its quarterly earnings data on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.70 billion. NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. Analysts predict that NVIDIA Co. will post 2.49 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.12%. NVIDIA’s dividend payout ratio (DPR) is currently 5.25%.

NVIDIA Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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