Arrow Financial Corp boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,406 shares of the computer hardware maker’s stock after buying an additional 237 shares during the quarter. NVIDIA makes up approximately 1.0% of Arrow Financial Corp’s portfolio, making the stock its 21st biggest position. Arrow Financial Corp’s holdings in NVIDIA were worth $8,209,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ICW Investment Advisors LLC acquired a new position in NVIDIA during the 2nd quarter worth about $289,000. Arjuna Capital bought a new position in shares of NVIDIA in the 2nd quarter worth about $3,791,000. Souders Financial Advisors bought a new position in shares of NVIDIA in the 2nd quarter worth about $317,000. AGF Management Ltd. raised its position in shares of NVIDIA by 30.6% in the 2nd quarter. AGF Management Ltd. now owns 11,703 shares of the computer hardware maker’s stock worth $4,951,000 after acquiring an additional 2,743 shares in the last quarter. Finally, Heritage Wealth Advisors raised its position in shares of NVIDIA by 93.2% in the 2nd quarter. Heritage Wealth Advisors now owns 7,605 shares of the computer hardware maker’s stock worth $3,217,000 after acquiring an additional 3,668 shares in the last quarter. 64.79% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. Argus lifted their price objective on NVIDIA from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. BNP Paribas raised NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 target price for the company in a research report on Thursday, August 24th. Wells Fargo & Company boosted their target price on NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Finally, Mizuho boosted their target price on NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $571.49.
NVIDIA Price Performance
NVIDIA stock opened at $504.09 on Tuesday. NVIDIA Co. has a 12 month low of $138.84 and a 12 month high of $505.48. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $445.22 and its 200 day simple moving average is $425.77. The company has a market cap of $1.25 trillion, a price-to-earnings ratio of 121.76, a PEG ratio of 3.80 and a beta of 1.69.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 101.5% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 9.66 EPS for the current year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 3.86%.
Insider Buying and Selling at NVIDIA
In other news, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the transaction, the director now owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the transaction, the director now owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total value of $13,478,648.88. Following the completion of the transaction, the chief executive officer now directly owns 7,918,875 shares in the company, valued at approximately $3,595,248,438.75. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock valued at $67,606,089 in the last 90 days. 3.99% of the stock is currently owned by company insiders.
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.
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