Spirit of America Management Corp NY reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 17.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,792 shares of the computer hardware maker’s stock after selling 7,600 shares during the period. NVIDIA accounts for about 2.2% of Spirit of America Management Corp NY’s holdings, making the stock its 11th biggest position. Spirit of America Management Corp NY’s holdings in NVIDIA were worth $9,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of NVIDIA by 1.2% in the third quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock valued at $24,732,878,000 after acquiring an additional 2,326,387 shares in the last quarter. State Street Corp raised its stake in NVIDIA by 0.9% in the 3rd quarter. State Street Corp now owns 98,751,264 shares of the computer hardware maker’s stock valued at $11,987,416,000 after purchasing an additional 908,481 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after purchasing an additional 5,043,685 shares during the last quarter. Geode Capital Management LLC raised its stake in NVIDIA by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 45,788,952 shares of the computer hardware maker’s stock valued at $6,679,427,000 after purchasing an additional 692,636 shares during the last quarter. Finally, Morgan Stanley raised its stake in NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after purchasing an additional 4,621,002 shares during the last quarter. Hedge funds and other institutional investors own 64.00% of the company’s stock.
Insider Buying and Selling at NVIDIA
In related news, Director Dawn E. Hudson sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 85,350 shares of the company’s stock, valued at approximately $23,432,842.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Dawn E. Hudson sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 85,350 shares of the company’s stock, valued at approximately $23,432,842.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $379.00, for a total value of $37,900,000.00. Following the sale, the director now directly owns 3,397,136 shares in the company, valued at $1,287,514,544. The disclosure for this sale can be found here. Insiders have sold a total of 372,988 shares of company stock valued at $148,368,561 in the last three months. Corporate insiders own 3.99% of the company’s stock.
NVIDIA Stock Performance
NVIDIA (NASDAQ:NVDA – Get Rating) last announced its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The company had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same period in the prior year, the company posted $1.18 EPS. NVIDIA’s quarterly revenue was down 13.2% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 6.29 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 8th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Wednesday, June 7th. NVIDIA’s payout ratio is 8.33%.
Analyst Upgrades and Downgrades
NVDA has been the subject of several analyst reports. Citigroup boosted their target price on shares of NVIDIA from $363.00 to $420.00 in a research note on Thursday, May 25th. Bank of America boosted their target price on shares of NVIDIA from $450.00 to $500.00 in a research note on Wednesday, May 31st. Stifel Nicolaus boosted their target price on shares of NVIDIA from $225.00 to $300.00 in a research note on Tuesday, May 23rd. Wells Fargo & Company boosted their target price on shares of NVIDIA from $320.00 to $450.00 in a research note on Thursday, May 25th. Finally, Oppenheimer lifted their price target on NVIDIA from $350.00 to $420.00 in a report on Thursday, May 25th. One 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.19.
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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