Legacy Financial Strategies LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 11.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,328 shares of the computer hardware maker's stock after acquiring an additional 4,714 shares during the quarter. NVIDIA comprises about 1.1% of Legacy Financial Strategies LLC's investment portfolio, making the stock its 13th biggest position. Legacy Financial Strategies LLC's holdings in NVIDIA were worth $5,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter worth about $43,515,504,000. GAMMA Investing LLC grew its holdings in NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after purchasing an additional 48,439,859 shares during the last quarter. Northern Trust Corp raised its position in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Proficio Capital Partners LLC lifted its stake in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $2,987,733,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Stock Performance
NVDA traded up $1.33 during trading on Tuesday, reaching $143.96. 154,969,369 shares of the company's stock were exchanged, compared to its average volume of 273,132,656. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $153.13. The company's fifty day simple moving average is $119.10 and its 200-day simple moving average is $126.11. The stock has a market capitalization of $3.51 trillion, a P/E ratio of 56.65, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12.
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 the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period last year, the business earned $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.29%.
Insider Buying and Selling
In related news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 125,836 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $137.79, for a total transaction of $17,338,942.44. Following the sale, the director now owns 10,149,697 shares in the company, valued at approximately $1,398,526,749.63. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,255,320 shares of company stock valued at $172,680,419 over the last ninety days. Company insiders own 4.17% of the company's stock.
Analyst Upgrades and Downgrades
NVDA has been the topic of several recent analyst reports. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Rosenblatt Securities increased their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. TD Cowen lifted their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. William Blair restated an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, Truist Financial raised their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $171.66.
Check Out Our Latest Stock Report on NVIDIA
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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