Navellier & Associates Inc lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 16.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,779 shares of the computer hardware maker’s stock after selling 10,322 shares during the period. NVIDIA accounts for about 1.9% of Navellier & Associates Inc’s investment portfolio, making the stock its 9th biggest holding. Navellier & Associates Inc’s holdings in NVIDIA were worth $12,223,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of NVDA. Bbva Compass Bancshares Inc. lifted its holdings in shares of NVIDIA by 12.3% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 1,995 shares of the computer hardware maker’s stock valued at $462,000 after purchasing an additional 219 shares during the last quarter. Commerce Bank lifted its holdings in shares of NVIDIA by 2.3% during the 1st quarter. Commerce Bank now owns 9,934 shares of the computer hardware maker’s stock valued at $2,301,000 after purchasing an additional 220 shares during the last quarter. Elite Wealth Management Inc. lifted its holdings in shares of NVIDIA by 2.0% during the 1st quarter. Elite Wealth Management Inc. now owns 11,571 shares of the computer hardware maker’s stock valued at $2,680,000 after purchasing an additional 228 shares during the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of NVIDIA by 3.9% during the 4th quarter. Baker Avenue Asset Management LP now owns 6,302 shares of the computer hardware maker’s stock valued at $1,219,000 after purchasing an additional 237 shares during the last quarter. Finally, Intersect Capital LLC lifted its holdings in shares of NVIDIA by 15.5% during the 1st quarter. Intersect Capital LLC now owns 1,836 shares of the computer hardware maker’s stock valued at $425,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.
Shares of NVDA opened at $261.24 on Tuesday. 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 fifty-two week low of $138.58 and a fifty-two week high of $269.20. The stock has a market cap of $161.01 billion, a price-to-earnings ratio of 55.94, a P/E/G ratio of 3.66 and a beta of 1.54.
NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, May 10th. The computer hardware maker reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.58. NVIDIA had a net margin of 34.44% and a return on equity of 52.18%. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 65.6% on a year-over-year basis. analysts expect that NVIDIA Co. will post 7.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Thursday, May 24th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, May 23rd. NVIDIA’s payout ratio is currently 12.85%.
In other news, Director A Brooke Seawell sold 21,029 shares of the stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $264.65, for a total transaction of $5,565,324.85. Following the sale, the director now directly owns 21,992 shares of the company’s stock, valued at approximately $5,820,182.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 4,643 shares of the stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $266.54, for a total transaction of $1,237,545.22. Following the sale, the executive vice president now directly owns 295,635 shares in the company, valued at $78,798,552.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,609 shares of company stock worth $61,860,200. Corporate insiders own 4.70% of the company’s stock.
Several analysts have recently commented on NVDA shares. Argus increased their price objective on NVIDIA from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, March 22nd. They noted that the move was a valuation call. Royal Bank of Canada increased their price objective on NVIDIA to $300.00 and gave the company an “outperform” rating in a report on Friday, May 11th. Vetr upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $257.77 price objective for the company in a report on Monday, February 19th. Citigroup increased their price objective on NVIDIA from $300.00 to $380.00 and gave the company a “buy” rating in a report on Friday, May 11th. Finally, Morgan Stanley upgraded NVIDIA from an “equal weight” rating to an “overweight” rating and set a $258.00 price objective for the company in a report on Monday, April 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $262.72.
NVIDIA Company Profile
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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