Viking Fund Management LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 12.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,000 shares of the computer hardware maker’s stock after selling 2,000 shares during the period. Viking Fund Management LLC’s holdings in NVIDIA were worth $3,889,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. United Bank raised its holdings in shares of NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after buying an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NVIDIA by 6.8% in the first 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 buying an additional 249,045 shares during the last quarter. MAS Advisors LLC raised its holdings in shares of NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after buying an additional 583 shares during the last quarter. Navis Wealth Advisors LLC raised its holdings in shares of NVIDIA by 205.3% in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after buying an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC acquired a new position in shares of NVIDIA during the first quarter worth about $929,000. 64.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on NVDA. Wedbush upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $290.00 to $490.00 in a research note on Thursday, May 25th. Tigress Financial boosted their price target on shares of NVIDIA from $250.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th. Truist Financial boosted their price target on shares of NVIDIA from $322.00 to $470.00 in a research note on Thursday, May 25th. Craig Hallum upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research note on Thursday, May 25th. Finally, 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 research report on Tuesday, March 21st. One 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. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $383.19.
Insiders Place Their Bets
NVIDIA Stock Performance
Shares of NVDA opened at $411.17 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 3.43. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 214.15, a PEG ratio of 2.80 and a beta of 1.75. The company’s 50 day simple moving average is $346.11 and its 200 day simple moving average is $259.96. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $439.90.
NVIDIA (NASDAQ:NVDA – Free Report) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. NVIDIA’s revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. On average, sell-side analysts predict that NVIDIA Co. will post 6.31 EPS for the current year.
NVIDIA Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 8th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Wednesday, June 7th. NVIDIA’s dividend payout ratio is currently 8.33%.
NVIDIA Company 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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