Welch Group LLC trimmed its position in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,920 shares of the computer hardware maker’s stock after selling 597 shares during the quarter. Welch Group LLC’s holdings in NVIDIA were worth $7,478,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in NVIDIA by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock valued at $24,732,878,000 after purchasing an additional 2,326,387 shares during the period. State Street Corp increased its position in NVIDIA by 0.9% during 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 period. Price T Rowe Associates Inc. MD increased its position in NVIDIA by 9.7% during 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 period. Geode Capital Management LLC increased its position in NVIDIA by 1.5% during 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 period. Finally, Morgan Stanley increased its position in NVIDIA by 20.2% during 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 period. 64.00% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at NVIDIA
In other news, Director Mark A. Stevens sold 40,000 shares of the business’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 of the company’s stock, valued at $454,650,689.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Mark A. Stevens sold 40,000 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 119,795 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 676,396 shares of the company’s stock, valued at approximately $272,702,575.32. The disclosure for this sale can be found here. Insiders sold a total of 372,988 shares of company stock valued at $148,368,561 over the last three months. 3.99% of the stock is currently owned by insiders.
NVIDIA Trading Down 3.7 %
NVIDIA (NASDAQ:NVDA – Get Rating) last posted its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share 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 firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the previous year, the business earned $1.18 earnings per share. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. Equities analysts forecast that NVIDIA Co. will post 6.31 EPS for the current year.
NVIDIA Dividend Announcement
The company 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 dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is 8.33%.
Wall Street Analyst Weigh In
NVDA has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of NVIDIA from $225.00 to $300.00 in a research report on Tuesday, May 23rd. Morgan Stanley boosted their target price on shares of NVIDIA from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Friday, June 16th. BMO Capital Markets boosted their target price on shares of NVIDIA from $350.00 to $450.00 in a report on Thursday, May 25th. BNP Paribas upgraded shares of NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 target price on the stock in a report on Tuesday, March 21st. Finally, TheStreet upgraded shares of NVIDIA from a “c+” rating to a “b-” rating in a report on Monday, March 20th. One equities research 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 assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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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