Udine Wealth Management Inc. increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 129.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,289 shares of the computer hardware maker's stock after buying an additional 19,318 shares during the quarter. NVIDIA comprises approximately 2.5% of Udine Wealth Management Inc.'s holdings, making the stock its 10th largest position. Udine Wealth Management Inc.'s holdings in NVIDIA were worth $3,716,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. FMR LLC lifted its holdings in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its holdings in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp lifted its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently commented on NVDA. Truist Financial upped their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 target price (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Mizuho upped their target price on NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Finally, UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $173.05.
Get Our Latest Stock Analysis on NVIDIA
NVIDIA Stock Performance
Shares of NVDA stock opened at $145.48 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The stock's 50-day moving average is $124.96 and its two-hundred day moving average is $126.62. The firm has a market cap of $3.55 trillion, a P/E ratio of 46.93, a PEG ratio of 1.27 and a beta of 2.12.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business'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 EPS. Analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be 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 is Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.
Insider Activity
In other news, Director Mark A. Stevens sold 190,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.51, for a total transaction of $27,076,900.00. Following the transaction, the director now owns 8,855,848 shares of the company's stock, valued at approximately $1,262,046,898.48. This represents a 2.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,540,845 shares of company stock valued at $357,983,449. Insiders own 4.17% of the company's stock.
NVIDIA 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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