Five Oceans Advisors cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,118 shares of the computer hardware maker’s stock after selling 51 shares during the quarter. Five Oceans Advisors’ holdings in NVIDIA were worth $866,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. United Bank grew its stake in shares of NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after purchasing an additional 1,730 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in NVIDIA by 6.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after acquiring an additional 249,045 shares during the last quarter. MAS Advisors LLC grew its stake in NVIDIA by 42.1% in the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares during the last quarter. Navis Wealth Advisors LLC grew its stake in NVIDIA by 205.3% in the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after acquiring an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC acquired a new stake in NVIDIA in the 1st quarter valued at about $929,000. 64.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NVDA has been the topic of a number of research reports. Rosenblatt Securities reissued a “buy” rating and issued a $320.00 price objective on shares of NVIDIA in a research note on Wednesday, March 22nd. Craig Hallum raised shares of NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research note on Thursday, May 25th. Citigroup increased their price objective on shares of NVIDIA from $363.00 to $420.00 in a research note on Thursday, May 25th. Oppenheimer raised their price target on shares of NVIDIA from $350.00 to $420.00 in a research note on Thursday, May 25th. Finally, Wells Fargo & Company raised their price target on shares of NVIDIA from $320.00 to $450.00 in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $383.19.
NVIDIA Stock Down 3.7 %
NVIDIA (NASDAQ:NVDA – Get Rating) last issued its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The company had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter last year, the company earned $1.18 earnings per share. NVIDIA’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, analysts forecast that NVIDIA Co. will post 6.31 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently disclosed 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 annualized dividend and a yield of 0.04%. The ex-dividend date is Wednesday, June 7th. NVIDIA’s dividend payout ratio (DPR) is 8.33%.
Insider Buying and Selling at NVIDIA
In other news, Director John Dabiri sold 383 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $384.89, for a total transaction of $147,412.87. Following the completion of the sale, the director now owns 2,034 shares of the company’s stock, valued at $782,866.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dawn E. Hudson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $274.55, for a total transaction of $1,372,750.00. Following the completion of the sale, the director now owns 85,350 shares of the company’s stock, valued at $23,432,842.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 383 shares of NVIDIA stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $384.89, for a total transaction of $147,412.87. Following the completion of the transaction, the director now directly owns 2,034 shares of the company’s stock, valued at approximately $782,866.26. The disclosure for this sale can be found here. Insiders sold 372,988 shares of company stock valued at $148,368,561 over the last 90 days. 3.99% of the stock is owned by corporate 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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