Capital CS Group LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,254 shares of the computer hardware maker’s stock after selling 2,657 shares during the period. NVIDIA accounts for about 9.3% of Capital CS Group LLC’s investment portfolio, making the stock its 2nd biggest holding. Capital CS Group LLC’s holdings in NVIDIA were worth $9,793,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. HBW Advisory Services LLC acquired a new position in shares of NVIDIA during the first quarter worth approximately $833,000. Diversified Trust Co boosted its position in shares of NVIDIA by 7.7% during the first quarter. Diversified Trust Co now owns 44,703 shares of the computer hardware maker’s stock worth $12,417,000 after buying an additional 3,200 shares during the period. Trust Co. of Vermont boosted its position in shares of NVIDIA by 12.1% during the first quarter. Trust Co. of Vermont now owns 11,156 shares of the computer hardware maker’s stock worth $3,099,000 after buying an additional 1,203 shares during the period. Sycomore Asset Management acquired a new position in shares of NVIDIA during the first quarter worth approximately $14,880,000. Finally, Monterey Private Wealth Inc. boosted its position in shares of NVIDIA by 9.3% during the first quarter. Monterey Private Wealth Inc. now owns 2,015 shares of the computer hardware maker’s stock worth $560,000 after buying an additional 171 shares during the period. 64.00% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently issued reports on NVDA. Raymond James reiterated a “strong-buy” rating and set a $290.00 price objective on shares of NVIDIA in a research report on Thursday, March 2nd. Barclays boosted their price objective on NVIDIA from $275.00 to $500.00 in a research report on Thursday, May 25th. Morgan Stanley boosted their target price on NVIDIA from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus boosted their target price on NVIDIA from $225.00 to $300.00 in a report on Tuesday, May 23rd. Finally, UBS Group boosted their target price on NVIDIA from $315.00 to $475.00 in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $382.43.
NVIDIA Trading Up 0.1 %
NVIDIA (NASDAQ:NVDA – Get Rating) last posted its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating the consensus estimate of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The business had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same period in the previous year, the company posted $1.18 EPS. NVIDIA’s revenue was down 13.2% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 6.29 EPS for the current fiscal year.
NVIDIA Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 8th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, June 7th. NVIDIA’s dividend payout ratio is currently 8.33%.
Insider Activity
In related news, Director Harvey C. Jones sold 119,795 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 676,396 shares in the company, valued at $272,702,575.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Dawn E. Hudson sold 5,000 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $274.55, for a total value of $1,372,750.00. Following the completion of the sale, the director now directly owns 85,350 shares in the company, valued at $23,432,842.50. The sale 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 company’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 completion of the sale, the director now owns 676,396 shares of the company’s stock, valued at $272,702,575.32. The disclosure for this sale can be found here. Insiders have sold a total of 254,386 shares of company stock worth $97,248,000 in the last ninety days. Corporate insiders own 3.99% of the company’s stock.
About NVIDIA
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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