Breakwater Capital Group increased its stake in the shares of NVIDIA Co. (NASDAQ: NVDA – Free report) by 19.3% during the 1st quarter, according to its last 13F filing with the Securities and Exchange Commission (SEC). The institutional investor held 1,864 shares of the hardware maker after acquiring 302 additional shares during the period. Breakwater Capital Group’s holdings in NVIDIA were worth $518,000 when it last filed with the SEC.
Several other hedge funds have also recently increased or reduced their holdings in NVDA. The David J Yvars group increased its stake in NVIDIA shares by 1.5% in the 1st quarter. David J Yvars Group now owns 11,708 shares of the hardware maker worth $3,252,000 after buying 168 more shares last quarter. Personal Capital Advisors Corp increased its stake in NVIDIA shares by 29.9% in Q4. Personal Capital Advisors Corp now owns 622,700 shares of the hardware maker worth $91,001,000 after buying an additional 143,483 shares last quarter. Alta Wealth Advisors LLC increased its stake in NVIDIA shares by 14.9% in Q1. Alta Wealth Advisors LLC now owns 6,650 shares of the hardware maker worth $1,847,000 after buying 863 additional shares last quarter. Linden Thomas Advisory Services LLC increased its stake in NVIDIA shares by 2.4% in Q1. Linden Thomas Advisory Services LLC now owns 14,601 shares of the hardware maker worth $4,056,000 after buying 342 more shares last quarter. Finally, Avala Global LP purchased a new equity stake in NVIDIA in Q4 worth $16,455,000. Institutional investors hold 64.00% of the company’s shares.
NVIDIA Stock Performance
Shares of NASDAQ NVDA opened at $454.69 on Monday. The company has a market capitalization of $1.12 trillion, a price/earnings ratio of 236.82, a PEG ratio of 3.07 and a beta of 1.74. NVIDIA Co. has a one-year low of $108.13 and a one-year high of $480.88. The company has a fifty-day simple moving average of $382.95 and a 200-day simple moving average of $283.29. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt ratio of 0.40.
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 the consensus estimate of $0.92 by $0.17. The company posted revenue of $7.19 billion in the quarter, compared to $6.52 billion expected by analysts. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. NVIDIA’s quarterly revenue fell 13.2% compared to the same quarter last year. In the same period last year, the company earned earnings per share of $1.18. Sell-side analysts expect NVIDIA Co. to post EPS of 6.43 for the current year.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 30. Shareholders of record on Thursday, June 8 received a dividend of $0.04. 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 payout ratio is currently 8.33%.
Changes to analyst ratings
A number of analysts have recently commented on the company. Credit Suisse Group set a price target of $275.00 on NVIDIA in a research note on Wednesday, March 22. Piper Sandler raised its target price on NVIDIA from $440.00 to $450.00 in a Thursday, June 29 report. Evercore ISI raised its target price on NVIDIA from $320.00 to $500.00 in a Thursday, May 25 report. KeyCorp raised its price target on NVIDIA from $500.00 to $550.00 and gave the stock an “overweight” rating in a Tuesday, July 11 report. Finally, Daiwa Capital Markets upgraded NVIDIA from a “neutral” rating to an “outperforming” rating and raised its share price target from $408.00 to $475.00 in a Thursday, June 29 report. . One analyst has assigned the stock a sell rating, six have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating for the stock. Based on MarketBeat data, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $407.43.
Insider buying and selling
In related news, the director Mark A.Stevens sold 40,000 shares of the company in a trade on Tuesday, June 20. The stock was sold at an average price of $432.06, for a total value of $17,282,400.00. Following the sale, the director now owns 1,052,286 shares of the company, valued at approximately $454,650,689.16. The sale was disclosed in a legal filing with the SEC, which is available via this link. In related news, EVP Debora Shoquist sold 23,084 shares of the company in a trade on Thursday, May 18. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the sale, the executive vice president now owns 139,860 shares of the company, valued at approximately $42,657,300. The sale was disclosed in a legal filing with the SEC, which is available via this link. Additionally, director Mark A. Stevens sold 40,000 shares of the company in a trade on Tuesday, June 20. The shares were sold at an average price of $432.06, for a total value of $17,282,400.00. Following the completion of the sale, the administrator now directly owns 1,052,286 shares of the company, valued at approximately $454,650,689.16. Disclosure of this sale can be found here. Insiders sold 368,271 shares of the company worth $147,115,953 in the past 90 days. 3.99% of the shares are held by insiders of the company.
NVIDIA 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 games 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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