Corbenic Partners LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,711 shares of the computer hardware maker’s stock after buying an additional 28 shares during the quarter. Corbenic Partners LLC’s holdings in NVIDIA were worth $914,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. raised its stake in NVIDIA by 76,947.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 7,303,326 shares of the computer hardware maker’s stock valued at $307,000 after purchasing an additional 7,293,847 shares in the last quarter. Norges Bank acquired a new position in NVIDIA during the fourth quarter worth about $3,076,228,000. Morgan Stanley raised its stake in NVIDIA by 29.7% during the fourth quarter. Morgan Stanley now owns 4,695,110 shares of the computer hardware maker’s stock worth $2,451,789,000 after acquiring an additional 1,075,930 shares in the last quarter. Renaissance Technologies LLC acquired a new position in NVIDIA during the fourth quarter worth about $523,815,000. Finally, BlackRock Inc. raised its stake in NVIDIA by 2.0% during the fourth quarter. BlackRock Inc. now owns 44,799,146 shares of the computer hardware maker’s stock worth $23,394,117,000 after acquiring an additional 871,896 shares in the last quarter. 65.70% of the stock is owned by institutional investors.
NVDA has been the topic of several research reports. Oppenheimer boosted their price target on NVIDIA from $600.00 to $700.00 and gave the stock an “outperform” rating in a report on Thursday, February 25th. Cowen boosted their price target on NVIDIA from $665.00 to $675.00 and gave the stock an “outperform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on NVIDIA from $560.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday. They noted that the move was a valuation call. New Street Research upgraded NVIDIA from a “sell” rating to a “neutral” rating in a report on Wednesday, February 3rd. Finally, Mizuho upped their target price on NVIDIA from $650.00 to $675.00 and gave the company a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $606.61.
NASDAQ NVDA traded up $28.06 during trading hours on Thursday, hitting $639.14. The company had a trading volume of 294,707 shares, compared to its average volume of 8,522,496. NVIDIA Co. has a 52 week low of $267.11 and a 52 week high of $628.82. The firm has a 50 day simple moving average of $533.51 and a 200 day simple moving average of $538.31. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.52 and a current ratio of 3.92. The firm has a market capitalization of $396.27 billion, a price-to-earnings ratio of 100.01, a PEG ratio of 3.87 and a beta of 1.45.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Tuesday, February 23rd. The computer hardware maker reported $3.10 EPS for the quarter, topping the consensus estimate of $2.81 by $0.29. NVIDIA had a return on equity of 32.61% and a net margin of 25.89%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the company earned $1.89 EPS. On average, research analysts forecast that NVIDIA Co. will post 7.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 10th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, March 9th. This represents a $0.64 annualized dividend and a yield of 0.10%. NVIDIA’s dividend payout ratio is currently 13.94%.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in 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 gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.
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