Addenda Capital Inc. raised its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 121.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,891 shares of the computer hardware maker's stock after purchasing an additional 78,944 shares during the quarter. Addenda Capital Inc.'s holdings in NVIDIA were worth $15,642,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Wealth Group Ltd. increased its stake in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after buying an additional 100 shares during the last quarter. Tallon Kerry Patrick acquired a new position in NVIDIA during the fourth quarter valued at approximately $972,000. Capital & Planning LLC grew its stake in NVIDIA by 16.9% in the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after purchasing an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. increased its position in shares of NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after purchasing an additional 104 shares during the last quarter. Finally, Sugar Maple Asset Management LLC boosted its holdings in shares of NVIDIA by 2.9% in the 4th quarter. Sugar Maple Asset Management LLC now owns 8,540 shares of the computer hardware maker's stock valued at $1,147,000 after buying an additional 244 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Piper Sandler reiterated an "overweight" rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, TD Cowen raised their price objective on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $172.24.
View Our Latest Research Report on NVDA
NVIDIA Price Performance
Shares of NVIDIA stock traded up $2.17 during midday trading on Thursday, hitting $145.00. 161,506,082 shares of the company traded hands, compared to its average volume of 276,827,751. The stock has a market cap of $3.54 trillion, a price-to-earnings ratio of 57.06, a PEG ratio of 1.76 and a beta of 2.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm's fifty day moving average price is $120.91 and its 200-day moving average price is $126.34. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $153.13.
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 return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the firm posted $0.61 EPS. The business's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.29%.
Insider Buying and Selling at NVIDIA
In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,560,845 shares of company stock worth $360,351,849. 4.17% of the stock is currently owned by 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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