Hodges Capital Management Inc. Buys New Holdings in NVIDIA Co. (NVDA)

Share on StockTwits

Hodges Capital Management Inc. bought a new position in NVIDIA Co. (NASDAQ:NVDA) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,400 shares of the computer hardware maker’s stock, valued at approximately $251,000.

Other institutional investors also recently added to or reduced their stakes in the company. TD Capital Management LLC bought a new position in shares of NVIDIA during the fourth quarter valued at $27,000. Capital Financial Planning LLC purchased a new stake in NVIDIA in the fourth quarter worth about $28,000. Clarfeld Financial Advisors LLC purchased a new stake in NVIDIA in the fourth quarter worth about $29,000. Trust Department MB Financial Bank N A purchased a new stake in NVIDIA in the fourth quarter worth about $31,000. Finally, Truvestments Capital LLC purchased a new stake in NVIDIA in the first quarter worth about $33,000. 69.81% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on NVDA. Sanford C. Bernstein cut NVIDIA from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $250.00 to $175.00 in a research report on Monday, February 11th. Royal Bank of Canada reduced their price target on NVIDIA from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, December 27th. BidaskClub cut NVIDIA from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of NVIDIA in a research note on Wednesday, January 9th. Finally, Zacks Investment Research lowered NVIDIA from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the company’s stock. NVIDIA presently has an average rating of “Buy” and a consensus target price of $204.46.

In related news, CFO Colette Kress sold 14,092 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $183.33, for a total transaction of $2,583,486.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Debora Shoquist sold 5,823 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total value of $1,077,255.00. Following the transaction, the executive vice president now directly owns 171,783 shares of the company’s stock, valued at $31,779,855. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,029 shares of company stock valued at $3,678,385. 4.70% of the stock is owned by corporate insiders.

Shares of NVIDIA stock opened at $188.21 on Wednesday. NVIDIA Co. has a 12 month low of $124.46 and a 12 month high of $292.76. The company has a market cap of $112.39 billion, a P/E ratio of 31.01, a PEG ratio of 4.46 and a beta of 1.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.94 and a quick ratio of 6.76.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, February 14th. The computer hardware maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.27. NVIDIA had a return on equity of 41.78% and a net margin of 35.35%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The firm’s revenue was down 24.3% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 4.46 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Thursday, February 28th. NVIDIA’s payout ratio is presently 10.54%.

COPYRIGHT VIOLATION NOTICE: “Hodges Capital Management Inc. Buys New Holdings in NVIDIA Co. (NVDA)” was originally published by Fairfield Current and is owned by of Fairfield Current. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://www.fairfieldcurrent.com/news/2019/04/17/hodges-capital-management-inc-buys-new-holdings-in-nvidia-co-nvda.html.

NVIDIA Profile

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 game-streaming service; 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 cryptocurrency-specific graphics processing units.

Further Reading: Stock Split

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply