Oribel Capital Management LP cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 42.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,600 shares of the computer hardware maker’s stock after selling 6,300 shares during the quarter. Oribel Capital Management LP’s holdings in NVIDIA were worth $1,148,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. TD Capital Management LLC bought a new position in NVIDIA in the fourth quarter worth about $27,000. Trust Department MB Financial Bank N A purchased a new stake in NVIDIA in the fourth quarter valued at approximately $31,000. Resources Investment Advisors Inc. purchased a new stake in NVIDIA in the fourth quarter valued at approximately $42,000. Intercontinental Wealth Advisors LLC purchased a new stake in NVIDIA in the fourth quarter valued at approximately $46,000. Finally, Ayalon Holdings Ltd. purchased a new stake in NVIDIA in the fourth quarter valued at approximately $48,000. 68.72% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the company. Royal Bank of Canada dropped their target price on NVIDIA to $260.00 and set an “outperform” rating on the stock in a research report on Friday, November 16th. SunTrust Banks decreased their price target on NVIDIA to $237.00 and set a “buy” rating for the company in a report on Friday, November 16th. Benchmark decreased their price target on NVIDIA from $310.00 to $240.00 and set a “buy” rating for the company in a report on Friday, November 16th. Goldman Sachs Group downgraded NVIDIA from a “conviction-buy” rating to a “buy” rating and decreased their price target for the company from $283.00 to $200.00 in a report on Friday, November 16th. Finally, B. Riley reissued a “neutral” rating and issued a $190.00 price target (down from $240.00) on shares of NVIDIA in a report on Friday, November 16th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. NVIDIA has a consensus rating of “Buy” and an average target price of $210.62.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, February 14th. The computer hardware maker reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.27. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.22 billion. NVIDIA had a return on equity of 41.78% and a net margin of 35.35%. The firm’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.72 EPS. As a group, equities analysts expect that NVIDIA Co. will post 4.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, February 28th. NVIDIA’s dividend payout ratio is presently 10.54%.
In other news, EVP Debora Shoquist sold 6,345 shares of the stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $135.33, for a total transaction of $858,668.85. Following the completion of the transaction, the executive vice president now directly owns 177,911 shares in the company, valued at approximately $24,076,695.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.70% of the company’s stock.
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NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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