Millington Financial Advisors LLC boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 649.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,823 shares of the computer hardware maker's stock after buying an additional 13,713 shares during the quarter. Millington Financial Advisors LLC's holdings in NVIDIA were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hickory Point Bank & Trust acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $2,272,000. BTC Capital Management Inc. grew its position in shares of NVIDIA by 2.3% in the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock valued at $35,785,000 after purchasing an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP grew its position in shares of NVIDIA by 59.3% in the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Waddell & Associates LLC lifted its stake in shares of NVIDIA by 1.2% during the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock valued at $3,240,000 after buying an additional 297 shares during the period. Finally, Strategy Asset Managers LLC lifted its stake in shares of NVIDIA by 0.8% during the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock valued at $7,024,000 after buying an additional 405 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
NVDA has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Oppenheimer reissued an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, June 16th. Susquehanna reissued a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Morgan Stanley reissued an "overweight" rating and set a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Tigress Financial reissued a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $173.05.
Check Out Our Latest Stock Analysis on NVDA
NVIDIA Stock Performance
Shares of NVDA stock opened at $143.83 on Monday. The company's fifty day simple moving average is $126.37 and its 200-day simple moving average is $126.43. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $153.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.51 trillion, a PE ratio of 46.40, a P/E/G ratio of 1.27 and a beta of 2.12.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the prior year, the business posted $0.61 EPS. The business's revenue was up 69.2% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors 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 yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.
Insider Activity at NVIDIA
In related news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director now directly owns 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,469,685 shares of company stock valued at $349,669,962. Corporate insiders own 4.17% of the company's stock.
NVIDIA Company Profile
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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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