Kelly Financial Group LLC bought a new position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,886 shares of the computer hardware maker's stock, valued at approximately $344,000.
Several other hedge funds also recently made changes to their positions in the company. SC&H Financial Advisors Inc. lifted its stake in NVIDIA by 1.6% during the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after acquiring an additional 80 shares during the period. DecisionPoint Financial LLC lifted its stake in NVIDIA by 2.9% during the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock valued at $386,000 after acquiring an additional 80 shares during the period. BCR Wealth Strategies LLC lifted its stake in NVIDIA by 3.1% during the 4th quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock valued at $391,000 after acquiring an additional 89 shares during the period. Condor Capital Management lifted its stake in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after acquiring an additional 89 shares during the period. Finally, Squire Investment Management Company LLC lifted its stake in NVIDIA by 4.0% during the 4th quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock valued at $317,000 after acquiring an additional 91 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Trading Up 1.8%
Shares of NVDA opened at $157.75 on Friday. The company has a 50 day simple moving average of $130.96 and a two-hundred day simple moving average of $126.97. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $158.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market cap of $3.85 trillion, a P/E ratio of 50.89, a price-to-earnings-growth ratio of 1.40 and a beta of 2.12.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period last year, the business posted $0.61 earnings per share. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. On average, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on NVDA. Citigroup restated a "buy" rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.78.
View Our Latest Stock Report on NVIDIA
Insider Activity at NVIDIA
In related news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director now directly owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 50,980 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $156.92, for a total transaction of $7,999,781.60. Following the completion of the transaction, the director now directly owns 1,679,361 shares of the company's stock, valued at approximately $263,525,328.12. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,792,267 shares of company stock valued at $544,823,117. 4.17% of the stock is owned by corporate insiders.
About NVIDIA
(
Free Report)
NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
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