Bennett Selby Investments LP increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 37.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,255 shares of the computer hardware maker's stock after buying an additional 8,850 shares during the period. NVIDIA comprises about 1.4% of Bennett Selby Investments LP's holdings, making the stock its 17th biggest position. Bennett Selby Investments LP's holdings in NVIDIA were worth $3,496,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Wealth Group Ltd. boosted its position in shares of NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after acquiring an additional 100 shares during the period. Tallon Kerry Patrick purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $972,000. Capital & Planning LLC raised its stake in shares of NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock worth $1,021,000 after acquiring an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. increased its stake in shares of NVIDIA by 1.6% in the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after buying an additional 104 shares during the period. Finally, Brighton Jones LLC increased its stake in shares of NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after buying an additional 35,815 shares during the period. Institutional investors own 65.27% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Benchmark reissued a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. Finally, DZ Bank upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $173.05.
Read Our Latest Research Report on NVIDIA
Insiders Place Their Bets
In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction 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 trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director now owns 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,469,685 shares of company stock valued at $349,669,962. 4.17% of the stock is currently owned by corporate insiders.
NVIDIA Stock Performance
NVDA stock opened at $143.83 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $126.37 and its two-hundred day simple moving average is $126.56. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $153.13. The firm has a market cap of $3.51 trillion, a price-to-earnings ratio of 46.40, a PEG ratio of 1.27 and a beta of 2.12.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 EPS. Analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.
NVIDIA Profile
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider NVIDIA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NVIDIA wasn't on the list.
While NVIDIA currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
