JCIC Asset Management Inc. reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,582 shares of the computer hardware maker's stock after selling 1,693 shares during the period. NVIDIA makes up about 4.2% of JCIC Asset Management Inc.'s investment portfolio, making the stock its 6th largest position. JCIC Asset Management Inc.'s holdings in NVIDIA were worth $10,142,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares 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 worth $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick purchased a new position in NVIDIA during the 4th quarter valued at about $972,000. Capital & Planning LLC grew its stake in NVIDIA by 16.9% during the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after acquiring an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. grew its stake in NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after acquiring an additional 104 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after acquiring an additional 35,815 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.
NVIDIA Price Performance
NASDAQ:NVDA traded up $1.63 during trading hours on Thursday, reaching $173.00. The company had a trading volume of 160,375,417 shares, compared to its average volume of 264,477,289. The stock has a 50-day moving average of $144.76 and a two-hundred day moving average of $129.39. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.12. The firm has a market capitalization of $4.22 trillion, a PE ratio of 55.81, a PEG ratio of 1.51 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly 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 company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the company earned $0.61 earnings per share. The business's revenue was up 69.2% on a year-over-year basis. Analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on NVDA. Barclays lifted their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Jefferies Financial Group lifted their price target on NVIDIA from $185.00 to $200.00 in a report on Wednesday. Oppenheimer lifted their price target on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday. Mizuho set a $192.00 price target on NVIDIA and gave the company an "outperform" rating in a report on Tuesday. Finally, Raymond James Financial lifted their price target on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $181.22.
Read Our Latest Analysis on NVIDIA
Insiders Place Their Bets
In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $164.36, for a total transaction of $12,327,000.00. Following the sale, the chief executive officer owned 74,648,225 shares in the company, valued at approximately $12,269,182,261. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director owned 1,729,478 shares in the company, valued at $283,565,212.88. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,767,150 shares of company stock worth $701,030,045 over the last quarter. Company insiders own 4.17% of the company's stock.
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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