Amica Mutual Insurance Co. Decreases Stake in Nvidia Corp. (NVDA)
Amica Mutual Insurance Co. reduced its stake in Nvidia Corp. (NASDAQ:NVDA) by 19.7% during the third quarter, Holdings Channel reports. The firm owned 23,838 shares of the computer hardware maker’s stock after selling 5,847 shares during the period. Amica Mutual Insurance Co.’s holdings in Nvidia Corp. were worth $1,633,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. West Oak Capital LLC boosted its position in Nvidia Corp. by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock worth $107,000 after buying an additional 1,010 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in Nvidia Corp. by 52.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,784 shares of the computer hardware maker’s stock worth $122,000 after buying an additional 612 shares in the last quarter. Advisors Preferred LLC boosted its position in Nvidia Corp. by 791.9% in the third quarter. Advisors Preferred LLC now owns 2,310 shares of the computer hardware maker’s stock worth $158,000 after buying an additional 2,051 shares in the last quarter. Brick & Kyle Associates boosted its position in Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock worth $118,000 after buying an additional 502 shares in the last quarter. Finally, CenturyLink Investment Management Co acquired a new position in Nvidia Corp. during the third quarter worth about $183,000. 84.86% of the stock is owned by hedge funds and other institutional investors.
Nvidia Corp. (NASDAQ:NVDA) traded down 1.13% during midday trading on Wednesday, reaching $92.20. The company had a trading volume of 11,012,545 shares. The company has a 50-day moving average price of $75.70 and a 200-day moving average price of $60.35. Nvidia Corp. has a one year low of $24.75 and a one year high of $95.25. The stock has a market capitalization of $49.70 billion, a price-to-earnings ratio of 47.11 and a beta of 1.17.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.37. Nvidia Corp. had a return on equity of 26.82% and a net margin of 19.52%. The firm earned $2 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the business earned $0.44 EPS. The company’s revenue for the quarter was up 53.6% compared to the same quarter last year. On average, equities analysts expect that Nvidia Corp. will post $2.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be issued a $0.14 dividend. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, November 23rd. Nvidia Corp.’s dividend payout ratio is presently 29.32%.
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A number of analysts recently commented on NVDA shares. Bank of America Corp. reiterated a “buy” rating and issued a $80.00 price objective on shares of Nvidia Corp. in a research report on Monday, October 3rd. Nomura reiterated a “buy” rating and issued a $62.50 price objective on shares of Nvidia Corp. in a research report on Monday, September 12th. RBC Capital Markets reiterated an “outperform” rating and issued a $72.00 price objective on shares of Nvidia Corp. in a research report on Wednesday, August 31st. Vetr upgraded Nvidia Corp. from a “sell” rating to a “hold” rating and set a $69.05 price objective for the company in a research report on Wednesday, November 2nd. Finally, MKM Partners lifted their price objective on Nvidia Corp. from $87.00 to $106.00 and gave the stock a “buy” rating in a research report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $72.50.
In other news, insider Jen Hsun Huang sold 43,727 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $62.81, for a total value of $2,746,492.87. Following the completion of the sale, the insider now owns 1,827,279 shares of the company’s stock, valued at approximately $114,771,393.99. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 48,000 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $63.66, for a total value of $3,055,680.00. The disclosure for this sale can be found here. 5.82% of the stock is owned by insiders.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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