Boltwood Capital Management lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,506 shares of the computer hardware maker's stock after acquiring an additional 2,056 shares during the quarter. NVIDIA accounts for about 1.6% of Boltwood Capital Management's investment portfolio, making the stock its 14th biggest position. Boltwood Capital Management's holdings in NVIDIA were worth $5,365,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. ACT Advisors LLC. increased its holdings in NVIDIA by 12.3% in the first quarter. ACT Advisors LLC. now owns 9,717 shares of the computer hardware maker's stock valued at $1,053,000 after buying an additional 1,067 shares during the last quarter. Diligent Investors LLC increased its holdings in NVIDIA by 0.3% in the first quarter. Diligent Investors LLC now owns 38,006 shares of the computer hardware maker's stock valued at $4,119,000 after buying an additional 132 shares during the last quarter. Cypress Wealth Services LLC increased its holdings in NVIDIA by 8.1% in the first quarter. Cypress Wealth Services LLC now owns 35,235 shares of the computer hardware maker's stock valued at $3,819,000 after buying an additional 2,630 shares during the last quarter. Gilman Hill Asset Management LLC increased its holdings in NVIDIA by 1.4% in the first quarter. Gilman Hill Asset Management LLC now owns 24,370 shares of the computer hardware maker's stock valued at $2,641,000 after buying an additional 345 shares during the last quarter. Finally, Wealth Group Ltd. boosted its stake in NVIDIA by 15.7% in the first quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker's stock valued at $715,000 after acquiring an additional 896 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have commented on NVDA. Bank of America lifted their target price on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Barclays restated an "overweight" rating and issued a $170.00 target price (up from $155.00) on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Finally, Raymond James boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $172.24.
Get Our Latest Analysis on NVDA
Insider Activity at NVIDIA
In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm'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 transaction of $142,800,000.00. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares of the company's stock, valued at $6,300,891.36. This represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,560,845 shares of company stock worth $360,351,849 in the last ninety days. Company insiders own 4.17% of the company's stock.
NVIDIA Stock Up 1.9%
Shares of NVDA opened at $144.69 on Tuesday. The company has a 50-day simple moving average of $123.74 and a 200-day simple moving average of $126.36. The firm has a market capitalization of $3.53 trillion, a P/E ratio of 56.94, a P/E/G 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. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $153.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The company's quarterly revenue was up 69.2% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.
NVIDIA Dividend Announcement
The firm 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 dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's payout ratio is presently 1.29%.
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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