Capital Management Associates Inc increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 98.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,912 shares of the computer hardware maker's stock after acquiring an additional 6,414 shares during the quarter. Capital Management Associates Inc's holdings in NVIDIA were worth $1,399,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. Astoria Portfolio Advisors LLC. increased its stake in NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after purchasing an additional 864 shares during the period. Centerpoint Advisory Group boosted its holdings in shares of NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after acquiring an additional 943 shares in the last quarter. GSB Wealth Management LLC boosted its holdings in shares of NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after acquiring an additional 1,043 shares in the last quarter. Variant Private Wealth LLC boosted its holdings in shares of NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after acquiring an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc boosted its holdings in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after acquiring an additional 1,265 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Stock Down 2.3%
Shares of NASDAQ NVDA opened at $173.72 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.30. The company has a market capitalization of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.57 and a beta of 2.14. 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 firm's 50-day moving average is $155.30 and its two-hundred day moving average is $132.32.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Raymond James Financial lifted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Bank of America lifted their target price on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Benchmark reaffirmed a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Finally, Needham & Company LLC lifted their target price on shares of NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and an average price target of $182.03.
Read Our Latest Report on NVDA
Insider Activity
In other news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,339,800 shares of company stock worth $800,141,003. Corporate insiders own 4.17% of the company's stock.
About NVIDIA
(
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.
See Also
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