Precision Wealth Strategies LLC lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 17.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,587 shares of the computer hardware maker's stock after acquiring an additional 10,045 shares during the quarter. NVIDIA makes up 5.5% of Precision Wealth Strategies LLC's portfolio, making the stock its 3rd biggest position. Precision Wealth Strategies LLC's holdings in NVIDIA were worth $7,217,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC boosted its position in shares of NVIDIA by 1.7% during 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 purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of NVIDIA by 0.9% during 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 purchasing an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new stake in NVIDIA in the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp raised its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. TD Cowen boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Citigroup restated a "buy" rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, William Blair reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $176.19.
Check Out Our Latest Report on NVDA
Insider Buying and Selling
In related news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last three months. 4.17% of the stock is currently owned by company insiders.
NVIDIA Stock Performance
Shares of NVDA traded up $2.03 on Thursday, reaching $159.28. The company's stock had a trading volume of 143,716,055 shares, compared to its average volume of 267,930,164. The stock's 50 day simple moving average is $134.36 and its two-hundred day simple moving average is $127.45. 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 stock has a market capitalization of $3.89 trillion, a P/E ratio of 51.38, a PEG ratio of 1.36 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $160.93.
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 for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The firm's revenue was up 69.2% on a year-over-year basis. Research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.
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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