Welch & Forbes LLC lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,599,104 shares of the computer hardware maker's stock after selling 388,804 shares during the period. NVIDIA accounts for 5.1% of Welch & Forbes LLC's investment portfolio, making the stock its largest position. Welch & Forbes LLC's holdings in NVIDIA were worth $390,071,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Astoria Portfolio Advisors LLC. raised its holdings in shares of NVIDIA by 0.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after buying an additional 864 shares during the period. Centerpoint Advisory Group raised its holdings in shares of NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after buying an additional 943 shares during the period. GSB Wealth Management LLC raised its holdings in shares of NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC raised its holdings in shares of NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after buying an additional 3,206 shares during the period. Finally, Financial Perspectives Inc raised its holdings in shares of NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after buying an additional 1,265 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.
Analyst Ratings Changes
NVDA has been the topic of several research analyst reports. Jefferies Financial Group boosted their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Benchmark reiterated a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. BNP Paribas upgraded NVIDIA to a "hold" rating in a report on Friday, August 1st. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Finally, Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and a consensus target price of $183.75.
Read Our Latest Report on NVIDIA
NVIDIA Stock Up 0.6%
NVDA opened at $183.16 on Wednesday. The business has a 50 day moving average price of $161.55 and a two-hundred day moving average price of $134.24. 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 cap of $4.47 trillion, a PE ratio of 59.08, a P/E/G ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48.
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 (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 business's quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.
Insiders Place Their Bets
In other news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,687,440 shares of company stock valued at $862,095,782. Corporate 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.
Further Reading
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