Ignite Planners LLC lifted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,892 shares of the computer hardware maker's stock after purchasing an additional 9,867 shares during the period. NVIDIA makes up 2.4% of Ignite Planners LLC's investment portfolio, making the stock its 4th largest holding. Ignite Planners LLC's holdings in NVIDIA were worth $12,377,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Copia Wealth Management acquired a new position in NVIDIA during the fourth quarter worth about $50,000. LSV Asset Management purchased a new stake in shares of NVIDIA during the fourth quarter worth about $54,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA during the first quarter worth about $51,000. Bruce G. Allen Investments LLC grew its holdings in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares in the last quarter. Finally, Delos Wealth Advisors LLC grew its holdings in shares of NVIDIA by 134.8% during the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock worth $66,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on NVDA shares. Bank of America lifted their price target on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Cantor Fitzgerald reiterated an "overweight" rating and set a $240.00 price target (up from $200.00) on shares of NVIDIA in a report on Monday. Morgan Stanley reiterated an "overweight" rating and set a $206.00 price target (up from $200.00) on shares of NVIDIA in a report on Monday. Oppenheimer boosted their target price on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, BNP Paribas upgraded shares of NVIDIA to a "hold" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $187.61.
Read Our Latest Report on NVDA
NVIDIA Stock Up 0.9%
Shares of NASDAQ:NVDA opened at $182.01 on Tuesday. The stock has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.71, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The company's fifty day moving average is $164.75 and its two-hundred day moving average is $135.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is currently 1.29%.
Insider Activity
In other news, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction dated 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 transaction, the director 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 5,912,440 shares of company stock worth $902,886,782 over the last ninety days. 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.
Further Reading
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).
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