Spectrum Management Group Inc. Invests $383,000 in NVIDIA Corporation (NVDA) Stock

Spectrum Management Group Inc. purchased a new stake in NVIDIA Corporation (NASDAQ:NVDA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,140 shares of the computer hardware maker’s stock, valued at approximately $383,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cibc World Markets Corp lifted its stake in NVIDIA Corporation by 12.1% in the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after buying an additional 13,802 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in NVIDIA Corporation by 9.9% in the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after buying an additional 1,000 shares in the last quarter. RB Capital Management LLC bought a new position in NVIDIA Corporation in the second quarter valued at approximately $272,000. Oppenheimer Asset Management Inc. lifted its stake in NVIDIA Corporation by 17.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after buying an additional 2,836 shares in the last quarter. Finally, D. Scott Neal Inc. bought a new position in NVIDIA Corporation in the second quarter valued at approximately $258,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Corporation (NASDAQ:NVDA) traded down $0.25 during mid-day trading on Friday, hitting $211.36. 12,702,474 shares of the stock were exchanged, compared to its average volume of 13,441,235. The company has a market capitalization of $126,816.00, a PE ratio of 52.06, a P/E/G ratio of 4.57 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42. NVIDIA Corporation has a 52-week low of $84.77 and a 52-week high of $218.67.

NVIDIA Corporation (NASDAQ:NVDA) last posted its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.39. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. sell-side analysts forecast that NVIDIA Corporation will post 4.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. This is a boost from NVIDIA Corporation’s previous quarterly dividend of $0.14. NVIDIA Corporation’s dividend payout ratio is 13.90%.

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A number of research analysts have weighed in on NVDA shares. Vetr lowered shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price target on the stock. in a research note on Thursday, August 31st. Credit Suisse Group reissued an “outperform” rating on shares of NVIDIA Corporation in a research report on Thursday, August 31st. Goldman Sachs Group, Inc. (The) boosted their price objective on shares of NVIDIA Corporation from $193.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 11th. B. Riley boosted their price objective on shares of NVIDIA Corporation from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA Corporation in a research report on Thursday, September 28th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. NVIDIA Corporation currently has an average rating of “Buy” and an average price target of $186.85.

In related news, Director Dawn E. Hudson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $213.44, for a total value of $3,201,600.00. Following the completion of the transaction, the director now owns 46,868 shares in the company, valued at approximately $10,003,505.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 22,808 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.31, for a total transaction of $4,226,550.48. The disclosure for this sale can be found here. Insiders sold 451,503 shares of company stock valued at $81,997,895 in the last three months. Company insiders own 5.82% of the company’s stock.

NVIDIA Corporation 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.

Institutional Ownership by Quarter for NVIDIA Corporation (NASDAQ:NVDA)

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