Gradient Investments LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 29.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,651 shares of the computer hardware maker’s stock after selling 19,882 shares during the quarter. Gradient Investments LLC’s holdings in NVIDIA were worth $20,157,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the business. Contravisory Investment Management Inc. acquired a new stake in NVIDIA in the first quarter valued at approximately $28,000. Nordwand Advisors LLC acquired a new position in shares of NVIDIA during the first quarter worth $28,000. Quarry LP acquired a new position in shares of NVIDIA during the first quarter worth $34,000. Financial Connections Group Inc. lifted its holdings in shares of 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 purchasing an additional 212 shares during the period. Finally, Chelsea Counsel Co. acquired a new position in shares of NVIDIA during the fourth quarter worth $37,000. 64.79% of the stock is owned by institutional investors.
Insider Buying and Selling at NVIDIA
In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the sale, the chief executive officer now directly owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the transaction, the director now owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now directly owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,515 shares of company stock worth $67,726,231. 3.99% of the stock is owned by corporate insiders.
NVIDIA Price Performance
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.62. The business had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. Research analysts predict that NVIDIA Co. will post 9.46 earnings per share for the current year.
NVIDIA Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 7th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is 3.86%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on NVDA shares. Jefferies Financial Group lifted their price target on shares of NVIDIA from $500.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NVIDIA from $440.00 to $560.00 and gave the stock a “hold” rating in a research report on Thursday, August 24th. Westpark Capital upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a report on Thursday, August 24th. Wells Fargo & Company boosted their price target on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Finally, Phillip Securities upgraded shares of NVIDIA from an “accumulate” rating to a “buy” rating in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $555.70.
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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