Baillie Gifford & Co. reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,951,156 shares of the computer hardware maker’s stock after selling 1,217,599 shares during the period. NVIDIA comprises about 2.7% of Baillie Gifford & Co.’s holdings, making the stock its 9th largest holding. Baillie Gifford & Co. owned about 1.64% of NVIDIA worth $2,304,588,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Adirondack Trust Co. boosted its holdings in NVIDIA by 146.1% in the first quarter. Adirondack Trust Co. now owns 443 shares of the computer hardware maker’s stock valued at $100,000 after purchasing an additional 263 shares during the period. Global Trust Asset Management LLC purchased a new position in NVIDIA in the fourth quarter valued at $116,000. Clearbridge Investments LLC boosted its holdings in NVIDIA by 100.0% in the fourth quarter. Clearbridge Investments LLC now owns 600 shares of the computer hardware maker’s stock valued at $116,000 after purchasing an additional 300 shares during the period. Litman Gregory Asset Management LLC purchased a new position in NVIDIA in the first quarter valued at $174,000. Finally, Crewe Advisors LLC purchased a new position in NVIDIA in the fourth quarter valued at $148,000. Institutional investors and hedge funds own 65.00% of the company’s stock.
NASDAQ NVDA opened at $247.69 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.82 and a current ratio of 8.54. NVIDIA Co. has a 52-week low of $136.44 and a 52-week high of $260.50. The stock has a market cap of $147.33 billion, a P/E ratio of 53.04, a P/E/G ratio of 3.35 and a beta of 1.52.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, May 10th. The computer hardware maker reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.58. NVIDIA had a return on equity of 52.18% and a net margin of 34.44%. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the company posted $0.85 earnings per share. The business’s revenue was up 65.6% on a year-over-year basis. analysts predict that NVIDIA Co. will post 7.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 24th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Wednesday, May 23rd. NVIDIA’s dividend payout ratio is currently 12.85%.
In related news, insider Michael Byron sold 15,131 shares of the firm’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $245.02, for a total transaction of $3,707,397.62. Following the transaction, the insider now owns 92,285 shares of the company’s stock, valued at $22,611,670.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Persis Drell sold 5,141 shares of the firm’s stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $220.73, for a total value of $1,134,772.93. Following the transaction, the director now directly owns 20,963 shares in the company, valued at approximately $4,627,162.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,100 shares of company stock worth $22,416,103. Corporate insiders own 4.70% of the company’s stock.
A number of research analysts recently issued reports on NVDA shares. Cowen initiated coverage on NVIDIA in a report on Thursday, May 17th. They issued an “outperform” rating and a $325.00 target price for the company. Vetr cut NVIDIA from a “strong-buy” rating to a “buy” rating and set a $275.09 price target on the stock. in a research note on Monday, March 12th. UBS raised their price target on NVIDIA from $250.00 to $266.00 and gave the company a “neutral” rating in a research note on Friday, May 11th. B. Riley raised their price target on NVIDIA from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, May 11th. Finally, Morgan Stanley upgraded NVIDIA from an “equal weight” rating to an “overweight” rating and set a $258.00 price target on the stock in a research note on Monday, April 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $260.06.
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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