Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,860,405 shares of the computer hardware maker's stock after buying an additional 1,839,344 shares during the period. NVIDIA comprises about 3.5% of Mirae Asset Global Investments Co. Ltd.'s holdings, making the stock its 5th largest position. Mirae Asset Global Investments Co. Ltd. owned approximately 0.05% of NVIDIA worth $1,324,831,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Condor Capital Management boosted its holdings in shares of NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after purchasing an additional 89 shares in the last quarter. Kelly Financial Services LLC boosted its holdings in shares of NVIDIA by 2.0% in the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after purchasing an additional 94 shares in the last quarter. Foundry Financial Group Inc. boosted its holdings in shares of NVIDIA by 2.2% in the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock worth $589,000 after purchasing an additional 96 shares in the last quarter. Wallace Hart LLC boosted its holdings in shares of NVIDIA by 3.9% in the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after purchasing an additional 97 shares in the last quarter. Finally, Affiance Financial LLC boosted its holdings in shares of NVIDIA by 0.7% in the 1st quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker's stock worth $1,479,000 after purchasing an additional 97 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.
NVIDIA Stock Performance
NVIDIA stock opened at $172.41 on Monday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $4.21 trillion, a P/E ratio of 55.62, a PEG ratio of 1.52 and a beta of 2.13. The stock's 50 day moving average is $146.99 and its 200 day moving average is $129.81. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $174.25.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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). The company had revenue of $44.06 billion during 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 business's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 EPS. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA's payout ratio is currently 1.29%.
Insider Buying and Selling
In other news, Director A Brooke Seawell sold 48,792 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the transaction, the director directly owned 1,729,478 shares of the company's stock, 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 through the SEC website. Also, CFO Colette Kress sold 27,650 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock worth $734,906,003 in the last 90 days. Insiders own 4.17% of the company's stock.
Analyst Upgrades and Downgrades
NVDA has been the subject of a number of research reports. Raymond James Financial upped their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Jefferies Financial Group boosted their target price on NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Finally, HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $181.22.
Read Our Latest Research Report on NVDA
NVIDIA Company 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.
See Also
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