Neville Rodie & Shaw Inc. recently decreased its holdings in NVIDIA Co. during the second quarter, according to a filing with the SEC. The fund sold 250 shares, leaving it with 1,580 shares of the computer hardware maker’s stock. At the end of the reporting period, the holdings were valued at $668,000.
This move by Neville Rodie & Shaw is not the only change in investor positions for NVIDIA. Other hedge funds and institutional investors have also made adjustments to their holdings. Price T Rowe Associates Inc. MD, for example, increased its position in NVIDIA by 9.7% during the last quarter, while Geode Capital Management LLC raised its position by 0.6% during the same period. Morgan Stanley and Norges Bank also acquired new positions in NVIDIA during previous quarters. Bank of New York Mellon Corp increased its stake in the company as well.
Shares of NVIDIA opened at $439.00 on Friday, with a 12-month low of $108.13 and a 12-month high of $502.66. The stock has a 50-day moving average of $454.96 and a 200-day moving average of $363.57. NVIDIA currently has a market capitalization of $1.08 trillion, with a P/E ratio of 106.04 and a beta of 1.74.
In terms of financial performance, NVIDIA reported strong earnings for the second quarter, beating analysts’ estimates. The company had a net margin of 31.59% and a return on equity of 45.50%. Its quarterly revenue was up 101.5% compared to the same period last year. Analysts predict that NVIDIA will post a 9.46 EPS for the current year.
NVIDIA also recently declared a quarterly dividend, with investors of record being paid a $0.04 dividend on September 28th. The ex-dividend date for this dividend was September 6th, and the dividend yield stands at 0.04%. The company’s dividend payout ratio is currently at 3.86%.
Insider activity at NVIDIA has also been noticeable, with CEO Jen Hsun Huang selling a considerable number of shares. This recent transaction was valued at $13,478,648.88. Other executives, such as Mark A. Stevens, have also sold shares during previous transactions.
Wall Street analysts have given NVIDIA positive ratings, with many increasing their price targets for the stock. The consensus rating for NVIDIA is currently “Moderate Buy,” with a consensus price target of $555.70.
Source: SEC filing and MarketBeat analysis