NVIDIA Corporation (NASDAQ:NVDA) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,238,496 shares of the computer hardware maker's stock after acquiring an additional 186,066 shares during the quarter. NVIDIA makes up 1.4% of DAVENPORT & Co LLC's investment portfolio, making the stock its 9th biggest holding. DAVENPORT & Co LLC's holdings in NVIDIA were worth $243,154,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tacita Capital Inc purchased a new stake in NVIDIA during the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the 4th quarter valued at approximately $38,000. Copia Wealth Management purchased a new stake in NVIDIA during the 4th quarter valued at approximately $50,000. LSV Asset Management purchased a new stake in NVIDIA during the 4th quarter valued at approximately $54,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA during the 1st quarter valued at approximately $51,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,114,800 shares of company stock worth $760,553,003 in the last three months. 4.17% of the stock is currently owned by company insiders.

NVIDIA Trading Down 0.1%

NVDA opened at $173.50 on Friday. The firm's fifty day moving average is $150.95 and its two-hundred day moving average is $130.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market cap of $4.23 trillion, a PE ratio of 55.97, a price-to-earnings-growth ratio of 1.53 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $174.72.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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 company had revenue of $44.06 billion for the quarter, compared to the consensus estimate 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 earned $0.61 EPS. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Raymond James Financial upped their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Mizuho set a $192.00 price target on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. TD Cowen upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Rosenblatt Securities upped their price target on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Truist Financial upped their price target on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and an average price target of $181.22.

NVIDIA Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.