Magnus Financial Group LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Magnus Financial Group LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 28.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,045 shares of the computer hardware maker’s stock after purchasing an additional 458 shares during the quarter. Magnus Financial Group LLC’s holdings in NVIDIA were worth $336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its position in NVIDIA by 1.8% during the first quarter. FMR LLC now owns 49,860,097 shares of the computer hardware maker’s stock worth $8,952,880,000 after buying an additional 858,116 shares in the last quarter. Jennison Associates LLC lifted its position in NVIDIA by 10.6% during the first quarter. Jennison Associates LLC now owns 7,857,550 shares of the computer hardware maker’s stock worth $1,410,902,000 after buying an additional 753,001 shares in the last quarter. Baillie Gifford & Co. lifted its position in NVIDIA by 16.0% during the first quarter. Baillie Gifford & Co. now owns 7,647,342 shares of the computer hardware maker’s stock worth $1,373,156,000 after buying an additional 1,052,689 shares in the last quarter. Northern Trust Corp lifted its position in NVIDIA by 1.4% during the first quarter. Northern Trust Corp now owns 6,952,640 shares of the computer hardware maker’s stock worth $1,248,416,000 after buying an additional 94,198 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in NVIDIA by 10.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,456,518 shares of the computer hardware maker’s stock worth $567,664,000 after buying an additional 315,383 shares in the last quarter. Hedge funds and other institutional investors own 66.93% of the company’s stock.

In other news, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $166.80, for a total value of $417,000.00. Following the completion of the sale, the director now directly owns 20,684 shares of the company’s stock, valued at approximately $3,450,091.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 2,236 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $164.01, for a total value of $366,726.36. Following the completion of the sale, the chief financial officer now directly owns 239,710 shares of the company’s stock, valued at $39,314,837.10. The disclosure for this sale can be found here. Insiders sold a total of 104,736 shares of company stock valued at $15,293,726 over the last three months. Company insiders own 4.64% of the company’s stock.

NVDA traded down $2.64 on Tuesday, hitting $168.14. 5,319,186 shares of the company were exchanged, compared to its average volume of 10,044,503. NVIDIA Co. has a twelve month low of $124.46 and a twelve month high of $292.76. The company has a market cap of $97.17 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 4.06 and a beta of 2.07. The company has a current ratio of 8.65, a quick ratio of 7.74 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $163.59 and a two-hundred day moving average price of $163.39.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.37. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. NVIDIA’s revenue for the quarter was down 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 EPS. Equities analysts expect that NVIDIA Co. will post 4.19 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Wednesday, August 28th. NVIDIA’s dividend payout ratio (DPR) is 10.54%.

A number of equities analysts recently commented on NVDA shares. BMO Capital Markets reiterated a “market perform” rating and set a $145.00 price objective on shares of NVIDIA in a research report on Friday. Sanford C. Bernstein set a $150.00 target price on NVIDIA and gave the stock a “hold” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. set a $200.00 target price on NVIDIA and gave the stock a “buy” rating in a research note on Friday. FBN Securities set a $190.00 target price on NVIDIA and gave the stock a “buy” rating in a research note on Friday. Finally, Nomura set a $147.00 target price on NVIDIA and gave the stock a “hold” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have issued a buy rating to the company. NVIDIA currently has a consensus rating of “Buy” and an average price target of $188.99.

NVIDIA Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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