McLean Asset Management Corp lifted its holdings in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 130.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,693 shares of the computer hardware maker’s stock after purchasing an additional 2,090 shares during the quarter. McLean Asset Management Corp’s holdings in NVIDIA were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of the business. GoalVest Advisory LLC grew its holdings in NVIDIA by 124.1% during the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after purchasing an additional 108 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of NVIDIA in the fourth quarter worth about $34,000. Financial Connections Group Inc. lifted its position in shares of NVIDIA by 605.7% in the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after buying an additional 212 shares in the last quarter. NewSquare Capital LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth about $37,000. Finally, Chelsea Counsel Co. purchased a new stake in NVIDIA during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 64.00% of the company’s stock.
NVIDIA Trading Down 1.7 %
NVDA stock opened at $430.45 on Thursday. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $439.90. The stock has a market cap of $1.06 trillion, a price-to-earnings ratio of 224.19, a PEG ratio of 2.95 and a beta of 1.75. The business’s 50-day moving average is $331.50 and its 200 day moving average is $251.15.
NVIDIA Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 8th will be given 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 is Wednesday, June 7th. NVIDIA’s payout ratio is presently 8.33%.
Analyst Ratings Changes
A number of brokerages have issued reports on NVDA. Rosenblatt Securities restated a “buy” rating and set a $320.00 price objective on shares of NVIDIA in a research report on Wednesday, March 22nd. HSBC raised NVIDIA from a “reduce” rating to a “buy” rating and increased their price objective for the stock from $175.00 to $355.00 in a research note on Tuesday, April 18th. Tigress Financial increased their target price on NVIDIA from $250.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. UBS Group increased their target price on NVIDIA from $315.00 to $475.00 in a research report on Thursday, May 25th. Finally, Piper Sandler increased their price objective on NVIDIA from $300.00 to $440.00 in a report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $383.19.
Insider Activity
In other news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the sale, the director now owns 3,397,136 shares of the company’s stock, valued at approximately $1,287,514,544. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $379.00, for a total value of $37,900,000.00. Following the sale, the director now owns 3,397,136 shares of the company’s stock, valued at $1,287,514,544. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dawn E. Hudson sold 5,000 shares of the business’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $274.55, for a total transaction of $1,372,750.00. Following the completion of the transaction, the director now owns 85,350 shares of the company’s stock, valued at approximately $23,432,842.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 372,988 shares of company stock valued at $148,368,561. 3.99% of the stock is currently owned by company insiders.
NVIDIA 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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