KFG Wealth Management LLC grew its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 107.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,984 shares of the computer hardware maker's stock after purchasing an additional 8,804 shares during the period. KFG Wealth Management LLC's holdings in NVIDIA were worth $1,841,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its position 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 purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 worth $74,439,273,000 after acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after acquiring an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp lifted its holdings in shares of NVIDIA by 15.8% in the 4th 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. Hedge funds and other institutional investors own 65.27% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Piper Sandler reissued an "overweight" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Susquehanna reissued a "positive" rating and set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. TD Cowen raised their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. Finally, Oppenheimer reissued an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average price target of $173.05.
Check Out Our Latest Analysis on NVIDIA
Insider Activity
In related news, Director Mark A. Stevens sold 935,000 shares of the business'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 transaction, the director now 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction dated 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 transaction, the director now owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,469,685 shares of company stock valued at $349,669,962. Insiders own 4.17% of the company's stock.
NVIDIA Stock Up 0.9%
NVIDIA stock opened at $145.48 on Friday. 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 stock has a market cap of $3.55 trillion, a price-to-earnings ratio of 46.93, a PEG ratio of 1.28 and a beta of 2.12. The company's 50-day moving average price is $125.72 and its two-hundred day moving average price is $126.66.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.29%.
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.
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