Hartline Investment Corp lowered its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 802,232 shares of the computer hardware maker's stock after selling 97,126 shares during the period. NVIDIA comprises approximately 11.5% of Hartline Investment Corp's holdings, making the stock its 2nd largest position. Hartline Investment Corp's holdings in NVIDIA were worth $86,946,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of NVDA. Tacita Capital Inc bought a new stake in NVIDIA in the fourth quarter worth about $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the fourth quarter worth approximately $38,000. Copia Wealth Management bought a new position in NVIDIA in the fourth quarter worth approximately $50,000. LSV Asset Management bought a new position in NVIDIA in the fourth quarter worth approximately $54,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA in the first quarter worth $51,000. Institutional investors own 65.27% of the company's stock.
NVIDIA Stock Performance
Shares of NVIDIA stock traded down $4.15 during midday trading on Friday, hitting $173.72. The company had a trading volume of 203,669,565 shares, compared to its average volume of 248,821,531. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.30. 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 business's 50 day simple moving average is $154.45 and its two-hundred day simple moving average is $132.03. The stock has a market cap of $4.24 trillion, a PE ratio of 56.04, a P/E/G ratio of 1.58 and a beta of 2.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. As a group, equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.
NVIDIA Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's payout ratio is currently 1.29%.
Insiders Place Their Bets
In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director 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 position. 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 over the last 90 days. 4.17% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. Barclays lifted 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. DA Davidson lifted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Raymond James Financial lifted 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. Finally, Morgan Stanley lifted their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.
View Our Latest Research Report on NVDA
NVIDIA Company Profile
(
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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