Private Advisor Group LLC Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

Private Advisor Group LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 7.5% during the second quarter, Holdings Channel.com reports. The fund owned 300,098 shares of the computer hardware maker’s stock after selling 24,168 shares during the period. Private Advisor Group LLC’s holdings in NVIDIA were worth $45,493,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Gateway Investment Advisers LLC grew its stake in NVIDIA by 6.1% in the 2nd quarter. Gateway Investment Advisers LLC now owns 720,758 shares of the computer hardware maker’s stock valued at $109,260,000 after acquiring an additional 41,484 shares during the last quarter. Mechanics Bank Trust Department grew its stake in NVIDIA by 30.7% in the 2nd quarter. Mechanics Bank Trust Department now owns 15,350 shares of the computer hardware maker’s stock valued at $2,327,000 after acquiring an additional 3,602 shares during the last quarter. Bouvel Investment Partners LLC acquired a new stake in NVIDIA in the 2nd quarter valued at about $2,418,000. Lee Johnson Capital Management LLC grew its stake in NVIDIA by 6.7% in the 2nd quarter. Lee Johnson Capital Management LLC now owns 13,721 shares of the computer hardware maker’s stock valued at $2,079,000 after acquiring an additional 860 shares during the last quarter. Finally, Castle Rock Wealth Management LLC boosted its stake in shares of NVIDIA by 6.3% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 14,773 shares of the computer hardware maker’s stock worth $2,343,000 after purchasing an additional 869 shares during the last quarter. 62.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVDA. Piper Sandler decreased their price target on shares of NVIDIA from $235.00 to $200.00 in a research note on Thursday, September 1st. Susquehanna Bancshares decreased their price target on shares of NVIDIA from $200.00 to $190.00 and set a “positive” rating on the stock in a research note on Wednesday. BMO Capital Markets decreased their price target on shares of NVIDIA from $230.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NVIDIA from $175.00 to $165.00 and set a “hold” rating on the stock in a research note on Thursday, August 25th. Finally, Atlantic Securities decreased their price target on shares of NVIDIA to $205.00 in a research note on Thursday, May 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $214.91.

NVIDIA Trading Down 5.3 %

NVDA opened at $125.61 on Friday. The firm has a market capitalization of $312.77 billion, a P/E ratio of 41.18, a P/E/G ratio of 4.35 and a beta of 1.69. The firm’s 50 day moving average is $162.82 and its 200-day moving average is $185.71. NVIDIA Co. has a 52-week low of $124.28 and a 52-week high of $346.47. The company has a quick ratio of 3.11, a current ratio of 3.62 and a debt-to-equity ratio of 0.41.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 8th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Wednesday, September 7th. NVIDIA’s dividend payout ratio is presently 5.25%.

NVIDIA Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDAGet Rating).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.