WestEnd Advisors LLC reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,695 shares of the computer hardware maker's stock after selling 8,569 shares during the quarter. WestEnd Advisors LLC's holdings in NVIDIA were worth $16,983,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Condor Capital Management raised its stake in 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 grew its holdings in shares of NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares during the last quarter. Foundry Financial Group Inc. grew its holdings in NVIDIA by 2.2% during the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock worth $589,000 after acquiring an additional 96 shares during the last quarter. Mendel Capital Management LLC grew its holdings in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after acquiring an additional 96 shares during the last quarter. Finally, Wallace Hart LLC lifted its position 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 during the period. 65.27% of the stock is owned by institutional investors.
Insider Transactions at NVIDIA
In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,964,800 shares of company stock valued at $734,906,003. Company insiders own 4.17% of the company's stock.
NVIDIA Stock Performance
Shares of NVIDIA stock opened at $171.38 on Tuesday. 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 firm has a market cap of $4.18 trillion, a PE ratio of 55.28, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $174.25. The business's fifty day simple moving average is $146.99 and its 200-day simple moving average is $129.81.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. Equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued 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 dividend payout ratio is currently 1.29%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on NVDA. Loop Capital boosted their target price on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. TD Cowen increased their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Benchmark restated a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and an average price target of $181.22.
Check Out Our Latest Analysis on NVDA
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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