Transcend Capital Advisors LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 20.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,064 shares of the computer hardware maker’s stock after selling 2,904 shares during the quarter. Transcend Capital Advisors LLC’s holdings in NVIDIA were worth $3,073,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Contravisory Investment Management Inc. purchased a new stake in NVIDIA during the 1st quarter valued at about $28,000. GoalVest Advisory LLC boosted its holdings 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 acquiring 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 about $34,000. Financial Connections Group Inc. boosted its holdings in NVIDIA by 605.7% during the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after acquiring an additional 212 shares during the period. Finally, Chelsea Counsel Co. purchased a new stake in NVIDIA during the 4th quarter valued at about $37,000. 64.00% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Stock Performance
NVDA stock opened at $422.09 on Friday. The company has a market cap of $1.04 trillion, a P/E ratio of 219.84, a price-to-earnings-growth ratio of 2.91 and a beta of 1.75. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $439.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79. The stock’s fifty day moving average price is $337.91 and its 200-day moving average price is $254.83.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 8th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 8.33%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on NVDA shares. Evercore ISI increased their target price on NVIDIA from $320.00 to $500.00 in a report on Thursday, May 25th. Wells Fargo & Company upped their price target on NVIDIA from $320.00 to $450.00 in a research report on Thursday, May 25th. BMO Capital Markets upped their price target on NVIDIA from $350.00 to $450.00 in a research report on Thursday, May 25th. Deutsche Bank Aktiengesellschaft upped their price target on NVIDIA from $220.00 to $390.00 in a research report on Thursday, May 25th. Finally, KeyCorp upped their price target on NVIDIA from $320.00 to $375.00 in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $383.19.
Insider Buying and Selling
In related news, Director Dawn E. Hudson sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $274.55, for a total value of $1,372,750.00. Following the transaction, the director now directly owns 85,350 shares of the company’s stock, valued at approximately $23,432,842.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Dawn E. Hudson sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $274.55, for a total value of $1,372,750.00. Following the transaction, the director now directly owns 85,350 shares of the company’s stock, valued at approximately $23,432,842.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $432.06, for a total value of $17,282,400.00. Following the completion of the transaction, the director now directly owns 1,052,286 shares in the company, valued at $454,650,689.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 372,988 shares of company stock valued at $148,368,561. 3.99% of the stock is 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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