Means Investment CO. Inc. increased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,908 shares of the computer hardware maker's stock after purchasing an additional 25,617 shares during the period. NVIDIA makes up about 3.1% of Means Investment CO. Inc.'s holdings, making the stock its 9th biggest holding. Means Investment CO. Inc.'s holdings in NVIDIA were worth $29,253,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Walter & Keenan Wealth Management LLC IN ADV grew its holdings in NVIDIA by 18.8% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 31,939 shares of the computer hardware maker's stock worth $3,462,000 after acquiring an additional 5,052 shares during the last quarter. Trifecta Capital Advisors LLC grew its holdings in NVIDIA by 1.4% in the 1st quarter. Trifecta Capital Advisors LLC now owns 208,359 shares of the computer hardware maker's stock worth $22,582,000 after acquiring an additional 2,915 shares during the last quarter. Blue Trust Inc. grew its holdings in NVIDIA by 2.1% in the 1st quarter. Blue Trust Inc. now owns 135,988 shares of the computer hardware maker's stock worth $14,738,000 after acquiring an additional 2,788 shares during the last quarter. Townsend Asset Management Corp NC ADV grew its holdings in NVIDIA by 2.7% in the 1st quarter. Townsend Asset Management Corp NC ADV now owns 24,799 shares of the computer hardware maker's stock worth $2,688,000 after acquiring an additional 661 shares during the last quarter. Finally, Curran Financial Partners LLC grew its holdings in NVIDIA by 5.7% in the 1st quarter. Curran Financial Partners LLC now owns 21,217 shares of the computer hardware maker's stock worth $2,300,000 after acquiring an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.
NVIDIA Price Performance
Shares of NVIDIA stock traded up $1.76 during trading on Tuesday, hitting $160.00. The stock had a trading volume of 137,373,549 shares, compared to its average volume of 267,324,071. 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 firm has a market cap of $3.90 trillion, a P/E ratio of 51.61, a PEG ratio of 1.41 and a beta of 2.13. The business has a fifty day moving average of $137.37 and a two-hundred day moving average of $127.97. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $160.98.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. On average, sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.
Insider Buying and Selling
In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $158.35, for a total transaction of $11,876,250.00. Following the completion of the transaction, the chief executive officer owned 75,023,225 shares in the company, valued at $11,879,927,678.75. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Brooke Seawell sold 50,514 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $158.37, for a total value of $7,999,902.18. Following the sale, the director directly owned 1,974,784 shares of the company's stock, valued at $312,746,542.08. This represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,296,844 shares of company stock worth $624,019,677 in the last ninety days. Insiders own 4.17% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Raymond James Financial raised their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Barclays raised their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Thursday, April 3rd. Finally, TD Cowen raised their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $176.47.
Read Our Latest Stock Report on NVDA
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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