Jessup Wealth Management Inc lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,463 shares of the computer hardware maker's stock after selling 4,516 shares during the period. NVIDIA makes up approximately 6.1% of Jessup Wealth Management Inc's portfolio, making the stock its 3rd largest position. Jessup Wealth Management Inc's holdings in NVIDIA were worth $14,681,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Astoria Portfolio Advisors LLC. grew its position in NVIDIA by 0.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after purchasing an additional 864 shares during the period. Centerpoint Advisory Group grew its position in shares of NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after acquiring an additional 943 shares during the period. GSB Wealth Management LLC grew its position in shares of NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC grew its position in shares of NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after acquiring an additional 3,206 shares during the period. Finally, Financial Perspectives Inc grew its position in shares of NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after acquiring an additional 1,265 shares during the period. Institutional investors own 65.27% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on NVDA shares. Mizuho set a $192.00 price objective on shares of NVIDIA and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Bank of America boosted their price objective on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Oppenheimer boosted their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Benchmark reaffirmed a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus target price of $182.03.
Check Out Our Latest Stock Analysis on NVIDIA
Insider Buying and Selling at NVIDIA
In other news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,339,800 shares of company stock valued at $800,141,003 in the last ninety days. Company insiders own 4.17% of the company's stock.
NVIDIA Price Performance
Shares of NVDA stock opened at $173.72 on Friday. 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 company has a market capitalization of $4.24 trillion, a P/E ratio of 56.04, a P/E/G ratio of 1.57 and a beta of 2.14. The company's 50-day simple moving average is $155.30 and its two-hundred day simple moving average is $132.32. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data 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 net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.
NVIDIA Company Profile
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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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