MainStreet Investment Advisors LLC acquired a new position in NVIDIA Co. (NASDAQ:NVDA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,584 shares of the computer hardware maker’s stock, valued at approximately $1,208,000.
Other institutional investors have also bought and sold shares of the company. Accurate Investment Solutions Inc. boosted its position in shares of NVIDIA by 111.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. PrairieView Partners LLC acquired a new stake in shares of NVIDIA in the 1st quarter worth $26,000. Stonebridge Financial Planning Group LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth $28,000. Howard Wealth Management LLC purchased a new position in NVIDIA in the 4th quarter worth $28,000. Finally, Braun Bostich & Associates Inc. purchased a new position in NVIDIA in the 4th quarter worth $30,000. 66.68% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on NVDA shares. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, April 22nd. Craig Hallum raised their target price on NVIDIA from $300.00 to $335.00 and gave the stock a “hold” rating in a research note on Friday. Wedbush raised their target price on NVIDIA from $340.00 to $420.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada raised their target price on NVIDIA from $350.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Co raised their target price on NVIDIA from $360.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $340.68.
In related news, Director Mark A. Stevens sold 60,000 shares of NVIDIA stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $261.63, for a total value of $15,697,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 20,000 shares of NVIDIA stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $222.33, for a total value of $4,446,600.00. Following the completion of the sale, the director now owns 13,935 shares in the company, valued at $3,098,168.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,669 shares of company stock worth $27,025,985. 4.64% of the stock is currently owned by insiders.
NVDA stock traded up $10.04 during trading on Friday, hitting $361.05. The stock had a trading volume of 25,601,366 shares, compared to its average volume of 12,644,931. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.67 and a quick ratio of 7.13. NVIDIA Co. has a twelve month low of $132.60 and a twelve month high of $363.72. The stock has a market capitalization of $215.92 billion, a P/E ratio of 67.49, a PEG ratio of 3.68 and a beta of 1.33. The company’s 50-day moving average price is $292.70 and its two-hundred day moving average price is $252.32.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.44. NVIDIA had a return on equity of 29.76% and a net margin of 28.17%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted $0.88 EPS. NVIDIA’s revenue was up 38.7% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Co. will post 6.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.18%. NVIDIA’s payout ratio is 13.94%.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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