Gradient Investments LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,533 shares of the computer hardware maker’s stock after selling 10,171 shares during the quarter. Gradient Investments LLC’s holdings in NVIDIA were worth $18,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of NVIDIA in the 4th quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC raised its stake in shares of NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares in the last quarter. Jennison Associates LLC raised its stake in shares of NVIDIA by 34.8% in the 4th quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after acquiring an additional 6,013,647 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of NVIDIA by 9.7% in 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 acquiring an additional 5,043,685 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of NVIDIA by 20.2% in 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 acquiring an additional 4,621,002 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Evercore ISI raised their price objective on NVIDIA from $320.00 to $500.00 in a research note on Thursday, May 25th. Credit Suisse Group set a $275.00 price target on NVIDIA in a research report on Wednesday, March 22nd. StockNews.com started coverage on NVIDIA in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Susquehanna lifted their price target on NVIDIA from $350.00 to $450.00 in a research report on Thursday, May 25th. Finally, JPMorgan Chase & Co. lifted their price target on NVIDIA from $250.00 to $500.00 in a research report on Thursday, May 25th. One 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $383.19.
NVIDIA Price Performance
NVIDIA (NASDAQ:NVDA – Free Report) last posted its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS 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 analyst estimates of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The business’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 6.31 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders 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 dividend yield of 0.04%. NVIDIA’s payout ratio is currently 8.33%.
Insider Transactions at NVIDIA
In other news, Director John Dabiri sold 283 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the sale, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director John Dabiri sold 283 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the sale, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Harvey C. Jones sold 119,795 shares of the company’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 completion of the sale, the director now 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 368,271 shares of company stock worth $147,115,953 over the last 90 days. 3.99% of the stock is owned by insiders.
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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