Old North State Wealth Management LLC increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,063 shares of the computer hardware maker's stock after purchasing an additional 2,420 shares during the period. NVIDIA accounts for approximately 1.8% of Old North State Wealth Management LLC's portfolio, making the stock its 18th largest position. Old North State Wealth Management LLC's holdings in NVIDIA were worth $3,259,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its holdings 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 valued at $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC increased its stake in NVIDIA by 1.7% in the 4th 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 buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 purchasing an additional 3,721,331 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA during the 4th quarter worth $43,515,504,000. Finally, Northern Trust Corp boosted its holdings in 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 period. Institutional investors and hedge funds own 65.27% of the company's stock.
NVIDIA Stock Performance
Shares of NVIDIA stock traded down $1.13 during trading hours on Monday, reaching $171.28. The company's stock had a trading volume of 97,455,236 shares, compared to its average volume of 263,384,846. 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 Corporation has a one year low of $86.62 and a one year high of $174.25. The company's 50 day simple moving average is $146.99 and its 200 day simple moving average is $129.81. The stock has a market cap of $4.18 trillion, a P/E ratio of 55.25, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.61 EPS. As a group, analysts expect that NVIDIA Corporation will post 2.77 EPS 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 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 yield of 0.02%. NVIDIA's payout ratio is 1.29%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Needham & Company LLC raised their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. DA Davidson raised their price objective on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Finally, TD Cowen upped their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus target price of $181.22.
Get Our Latest Analysis on NVDA
Insider Transactions at NVIDIA
In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is owned by company insiders.
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.
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