Shoker Investment Counsel Inc. acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 739 shares of the computer hardware maker’s stock, valued at approximately $205,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. purchased a new position in shares of NVIDIA in the first quarter worth about $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in NVIDIA during the fourth quarter worth about $34,000. Financial Connections Group Inc. grew its holdings in NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after acquiring an additional 212 shares during the period. Chelsea Counsel Co. acquired a new stake in NVIDIA during the fourth quarter worth about $37,000. Finally, NewSquare Capital LLC acquired a new stake in NVIDIA during the fourth quarter worth about $37,000. Institutional investors own 64.00% of the company’s stock.
NVIDIA Stock Performance
Shares of NVDA stock traded up $9.03 during trading hours on Friday, reaching $468.03. 15,795,119 shares of the company’s stock were exchanged, compared to its average volume of 48,284,215. The company has a market cap of $1.16 trillion, a P/E ratio of 239.06, a price-to-earnings-growth ratio of 5.24 and a beta of 1.74. The company’s 50 day moving average is $409.90 and its two-hundred day moving average is $299.81. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $480.88. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The firm had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. NVIDIA’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 EPS. Equities research analysts anticipate that NVIDIA Co. will post 6.43 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s dividend payout ratio (DPR) is presently 8.33%.
Insider Transactions at NVIDIA
In other news, Director Harvey C. Jones sold 119,795 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $403.17, for a total transaction of $48,297,750.15. Following the sale, the director now owns 676,396 shares in the company, valued at $272,702,575.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, CFO Colette Kress sold 6,124 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total value of $2,489,467.24. Following the transaction, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harvey C. Jones sold 119,795 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $403.17, for a total value of $48,297,750.15. Following the completion of the transaction, the director now directly owns 676,396 shares in the company, valued at $272,702,575.32. The disclosure for this sale can be found here. Insiders have sold 368,271 shares of company stock worth $147,115,953 over the last quarter. 3.99% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts recently commented on NVDA shares. Robert W. Baird raised NVIDIA from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $300.00 to $475.00 in a report on Thursday, May 25th. Truist Financial raised their price objective on NVIDIA from $470.00 to $545.00 and gave the company a “buy” rating in a report on Friday, July 14th. Wells Fargo & Company raised their price objective on NVIDIA from $320.00 to $450.00 in a report on Thursday, May 25th. The Goldman Sachs Group raised their price objective on NVIDIA from $440.00 to $495.00 in a report on Monday, July 10th. Finally, Morgan Stanley lifted their price target on NVIDIA from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Friday, June 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $425.00.
NVIDIA Company Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. 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 GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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