Legacy Wealth Asset Management LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,863 shares of the computer hardware maker's stock after selling 1,772 shares during the quarter. NVIDIA accounts for approximately 1.1% of Legacy Wealth Asset Management LLC's investment portfolio, making the stock its 9th biggest holding. Legacy Wealth Asset Management LLC's holdings in NVIDIA were worth $3,887,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Kaizen Financial Strategies grew its position in shares of NVIDIA by 3.0% in the first quarter. Kaizen Financial Strategies now owns 59,613 shares of the computer hardware maker's stock valued at $6,461,000 after purchasing an additional 1,717 shares during the last quarter. Conrad Siegel Investment Advisors Inc. increased its position in NVIDIA by 2.7% during the 1st quarter. Conrad Siegel Investment Advisors Inc. now owns 8,824 shares of the computer hardware maker's stock worth $956,000 after buying an additional 229 shares during the period. Aletheian Wealth Advisors LLC lifted its holdings in shares of NVIDIA by 9.0% during the first quarter. Aletheian Wealth Advisors LLC now owns 25,889 shares of the computer hardware maker's stock worth $2,806,000 after buying an additional 2,127 shares in the last quarter. Sterneck Capital Management LLC boosted its position in shares of NVIDIA by 5.7% in the first quarter. Sterneck Capital Management LLC now owns 3,705 shares of the computer hardware maker's stock valued at $402,000 after acquiring an additional 200 shares during the period. Finally, Allied Investment Advisors LLC boosted its position in shares of NVIDIA by 9.3% in the first quarter. Allied Investment Advisors LLC now owns 5,090 shares of the computer hardware maker's stock valued at $552,000 after acquiring an additional 435 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.
Wall Street Analysts Forecast Growth
NVDA has been the subject of several analyst reports. Barclays reiterated an "overweight" rating and issued a $170.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Raymond James increased their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Truist Financial upped their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $172.24.
Check Out Our Latest Report on NVDA
Insider Buying and Selling at NVIDIA
In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction 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 transaction, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,560,845 shares of company stock valued at $360,351,849. Company insiders own 4.17% of the company's stock.
NVIDIA Trading Up 1.5%
Shares of NVIDIA stock traded up $2.17 on Thursday, reaching $145.00. 161,506,082 shares of the company's stock were exchanged, compared to its average volume of 276,827,751. The company has a market capitalization of $3.54 trillion, a P/E ratio of 57.06, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm's 50-day moving average is $120.91 and its two-hundred day moving average is $126.34.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 quarter in the previous year, the business posted $0.61 earnings per share. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.
NVIDIA Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's payout ratio is currently 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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