Avidian Wealth Enterprises LLC lowered its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 878,520 shares of the computer hardware maker's stock after selling 3,063 shares during the quarter. NVIDIA comprises about 4.2% of Avidian Wealth Enterprises LLC's portfolio, making the stock its 3rd largest position. Avidian Wealth Enterprises LLC's holdings in NVIDIA were worth $95,214,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its position in 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 acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 acquiring an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new stake in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp lifted its position in 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 acquiring an additional 36,266,817 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.
NVIDIA Trading Down 2.5%
NASDAQ NVDA opened at $167.03 on Wednesday. The firm's 50-day moving average is $146.99 and its two-hundred day moving average is $129.81. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.25. 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 $4.08 trillion, a P/E ratio of 53.88, a PEG ratio of 1.51 and a beta of 2.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. On average, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on NVDA. Benchmark reiterated a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Bank of America lifted their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Finally, Needham & Company LLC lifted their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.22.
Get Our Latest Analysis on NVIDIA
Insider Buying and Selling at NVIDIA
In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $163.96, for a total value of $7,999,936.32. Following the transaction, the director directly owned 1,729,478 shares in the company, valued at $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $172.52, for a total transaction of $12,939,000.00. Following the completion of the transaction, the chief executive officer owned 74,348,225 shares in the company, valued at $12,826,555,777. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,964,800 shares of company stock valued at $734,906,003. 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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