Droms Strauss Advisors Inc. MO ADV has acquired a new stake in the shares of NVIDIA Co. (NASDAQ: NVDA – Free report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 995 shares of the hardware maker, valued at around $276,000.
A number of other hedge funds have also recently changed their NVDA holdings. Contravisory Investment Management Inc. purchased a new equity stake in NVIDIA during Q1 for $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in NVIDIA in Q4 worth $34,000. Financial Connections Group Inc. increased its stake in NVIDIA by 605.7% in Q4. Financial Connections Group Inc. now owns 247 shares of the hardware maker worth $36,000 after buying 212 additional shares during the period. NewSquare Capital LLC bought a new position in NVIDIA in Q4 worth $37,000. Finally, Chelsea Counsel Co. bought a new position in NVIDIA in Q4 worth $37,000. Institutional investors hold 64.00% of the company’s shares.
A Wall Street analyst gives his opinion
Several brokerages have commented on NVDA. Daiwa Capital Markets upgraded NVIDIA shares from a “neutral” rating to an “outperforming” rating and raised its price target for the stock from $408.00 to $475.00 in a Thursday, June 29 research note. Robert W. Baird upgraded NVIDIA shares from a “neutral” rating to an “outperforming” rating and raised his price target for the stock from $300.00 to $475.00 in a Thursday, May 25 research note. Tigress Financial raised its price target on NVIDIA shares from $320.00 to $560.00 in a Friday, July 7 research note. Citigroup raised its price target on NVIDIA shares from $420.00 to $520.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Truist Financial raised its price target on NVIDIA stock from $470.00 to $545.00 and gave the stock a “buy” rating in a Friday, July 14 research note. One financial analyst assigned the stock a sell rating, six assigned a hold rating, thirty-one assigned a buy rating and one assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $421.58.
Insider activity
In other news, EVP Debora Shoquist sold 23,084 shares in a trade that took place on Thursday, May 18. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares of the company, valued at $42,657,300. The transaction was disclosed in a legal filing with the SEC, which is available via the SEC website. In other news, Director Cox tench sold 100,000 shares in a trade that took place on Friday, May 26. The shares were sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the transaction, the administrator now directly owns 3,397,136 shares of the company, valued at $1,287,514,544. The transaction was disclosed in a legal filing with the SEC, which is available via the SEC website. Also, VPE Debora Shoquist sold 23,084 shares in a trade that took place on Thursday, May 18. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares of the company, valued at $42,657,300. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 368,271 shares of the company worth $147,115,953. Company insiders hold 3.99% of the company’s stock.
NVIDIA price performance
Shares of NVDA Stock opened at $455.20 on Friday. The company has a debt ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79. The company has a market capitalization of $1.12 trillion, a P/E ratio of 237.08, a P/E/G ratio of 3.14 and a beta of 1.74. The company’s 50-day simple moving average is $397.23 and its two-hundred-day simple moving average is $290.28. NVIDIA Co. has a one-year low of $108.13 and a one-year high of $480.88.
NVIDIA (NASDAQ: NVDA – Get a free report) last reported results on Wednesday, May 24. The hardware maker reported EPS of $1.09 for the quarter, beating analyst consensus estimates of $0.92 by $0.17. The company posted revenue of $7.19 billion for the quarter, versus a consensus estimate of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The company’s revenue for the quarter decreased 13.2% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $1.18. As a group, stock analysts expect NVIDIA Co. to post EPS of 6.43 for the current year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30. Shareholders of record on Thursday, June 8 received a dividend of $0.04 per share. The ex-dividend date was Wednesday, June 7. This represents a dividend of $0.16 on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is currently 8.33%.
NVIDIA Company Profile
NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s 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 GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.
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