ETF Managers Group LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 19.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,328 shares of the computer hardware maker’s stock after selling 1,052 shares during the quarter. ETF Managers Group LLC’s holdings in NVIDIA were worth $1,202,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. GoalVest Advisory LLC grew its position in NVIDIA by 124.1% in the 4th quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 108 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in NVIDIA in the 1st quarter valued at $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in NVIDIA in the 4th quarter valued at $34,000. Financial Connections Group Inc. grew its position in NVIDIA by 605.7% in the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after buying an additional 212 shares during the last quarter. Finally, NewSquare Capital LLC purchased a new position in NVIDIA in the 4th quarter valued at $37,000. 64.00% of the stock is owned by institutional investors and hedge funds.
NVIDIA Stock Up 3.6 %
NASDAQ NVDA opened at $423.02 on Friday. The stock has a market cap of $1.04 trillion, a PE ratio of 220.32, a P/E/G ratio of 2.83 and a beta of 1.75. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $439.90. The business has a 50 day moving average price of $351.89 and a two-hundred day moving average price of $262.71. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40.
NVIDIA Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, June 7th. NVIDIA’s dividend payout ratio is presently 8.33%.
Wall Street Analyst Weigh In
NVDA has been the topic of several research analyst reports. Evercore ISI boosted their target price on shares of NVIDIA from $320.00 to $500.00 in a research report on Thursday, May 25th. Needham & Company LLC boosted their target price on shares of NVIDIA from $300.00 to $460.00 in a research report on Thursday, May 25th. Jefferies Financial Group boosted their target price on shares of NVIDIA from $472.00 to $500.00 in a research report on Tuesday, June 20th. BMO Capital Markets boosted their target price on shares of NVIDIA from $350.00 to $450.00 in a research report on Thursday, May 25th. Finally, Truist Financial boosted their target price on shares of NVIDIA from $322.00 to $470.00 in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $392.70.
Insiders Place Their Bets
In other news, Director John Dabiri sold 283 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 2,401 shares in the company, valued at approximately $1,019,296.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director John Dabiri sold 283 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 2,401 shares in the company, valued at approximately $1,019,296.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The disclosure for this sale can be found here. Insiders sold a total of 368,271 shares of company stock worth $147,115,953 in the last 90 days. 3.99% of the stock is owned by company insiders.
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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