LifeSteps Financial Inc. decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,631 shares of the computer hardware maker’s stock after selling 649 shares during the period. NVIDIA accounts for about 1.4% of LifeSteps Financial Inc.’s investment portfolio, making the stock its 20th largest position. LifeSteps Financial Inc.’s holdings in NVIDIA were worth $1,286,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in NVDA. GoalVest Advisory LLC raised its stake in NVIDIA by 124.1% during the 4th 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 NVIDIA during the 4th quarter valued at approximately $34,000. Financial Connections Group Inc. raised its position 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 valued at $36,000 after buying an additional 212 shares during the last quarter. NewSquare Capital LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $37,000. Finally, Chelsea Counsel Co. bought a new position in shares of NVIDIA during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 64.00% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on the stock. Evercore ISI boosted their price target on shares of NVIDIA from $320.00 to $500.00 in a research note on Thursday, May 25th. Westpark Capital assumed coverage on NVIDIA in a research report on Wednesday, March 22nd. They issued a “hold” rating on the stock. Sanford C. Bernstein raised their price target on NVIDIA from $300.00 to $475.00 in a report on Thursday, May 25th. Bank of America upped their price objective on NVIDIA from $450.00 to $500.00 in a report on Wednesday, May 31st. Finally, Susquehanna raised their target price on shares of NVIDIA from $350.00 to $450.00 in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $383.19.
NVIDIA Price Performance
NVIDIA (NASDAQ:NVDA – Get Rating) last posted its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The company had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. NVIDIA’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 earnings per share. Equities analysts predict that NVIDIA Co. will post 6.29 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders 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 8.33%.
Insider Activity
In related news, Director Tench Coxe sold 100,000 shares of the business’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 transaction of $37,900,000.00. Following the completion of the transaction, the director now owns 3,397,136 shares in the company, valued at approximately $1,287,514,544. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Harvey C. Jones sold 119,795 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 676,396 shares of the company’s stock, valued at approximately $272,702,575.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the completion of the transaction, the director now directly owns 3,397,136 shares of the company’s stock, valued at approximately $1,287,514,544. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 372,988 shares of company stock worth $148,368,561. 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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