Eclectic Associates Inc. ADV lessened its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,240 shares of the computer hardware maker's stock after selling 2,046 shares during the period. Eclectic Associates Inc. ADV's holdings in NVIDIA were worth $2,085,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. boosted its stake in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after purchasing an additional 71 shares during the period. Baker Boyer National Bank boosted its stake in NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after purchasing an additional 76 shares during the period. SC&H Financial Advisors Inc. boosted its stake in NVIDIA by 1.6% in the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after purchasing an additional 80 shares during the period. DecisionPoint Financial LLC boosted its stake in NVIDIA by 2.9% in the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock worth $386,000 after purchasing an additional 80 shares during the period. Finally, BCR Wealth Strategies LLC boosted its stake in NVIDIA by 3.1% in the 4th quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock worth $391,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. DA Davidson raised their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Susquehanna reiterated a "positive" rating and set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Finally, Arete Research upgraded NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and an average price target of $172.24.
Check Out Our Latest Report on NVDA
NVIDIA Price Performance
Shares of NVIDIA stock opened at $144.69 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $153.13. The business has a 50-day moving average price of $123.74 and a 200 day moving average price of $126.36. The firm has a market cap of $3.53 trillion, a PE ratio of 56.94, a P/E/G ratio of 1.76 and a beta of 2.12.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 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 firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter last year, the firm posted $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given 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 dividend payout ratio (DPR) is presently 1.29%.
Insider Activity
In other NVIDIA news, 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 directly owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert K. Burgess sold 50,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the transaction, the director now owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,560,845 shares of company stock worth $360,351,849 over the last ninety days. Corporate 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.
Further Reading
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