FUKOKU MUTUAL LIFE INSURANCE Co cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,115 shares of the computer hardware maker’s stock after selling 764 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in NVIDIA were worth $3,643,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in NVDA. GoalVest Advisory LLC boosted its stake 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 purchasing an additional 108 shares during the period. Contravisory Investment Management Inc. bought a new stake in NVIDIA in the 1st quarter valued at $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in NVIDIA in the 4th quarter valued at $34,000. Financial Connections Group Inc. boosted its stake 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 purchasing an additional 212 shares during the period. Finally, NewSquare Capital LLC bought a new stake in NVIDIA in the 4th quarter valued at $37,000. 64.00% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently issued reports on NVDA. Mizuho boosted their price target on NVIDIA from $290.00 to $400.00 in a research note on Thursday, May 25th. TD Cowen upped their target price on NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, March 22nd. Wells Fargo & Company upped their target price on NVIDIA from $320.00 to $450.00 in a research report on Thursday, May 25th. JPMorgan Chase & Co. upped their target price on NVIDIA from $250.00 to $500.00 in a research report on Thursday, May 25th. Finally, Jefferies Financial Group upped their target price on NVIDIA from $472.00 to $500.00 in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $392.70.
NVIDIA Trading Up 3.6 %
NVIDIA (NASDAQ:NVDA – Free Report) last issued its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.17. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The company had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The business’s quarterly revenue was down 13.2% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA Co. will post 6.31 earnings per share for the current year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.16 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 8.33%.
Insider Buying and Selling
In related news, Director John Dabiri sold 283 shares of the firm’s 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 sale, the director now owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was 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 in the company, valued at $42,657,300. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares in the company, valued at approximately $1,019,296.53. The disclosure for this sale can be found here. Insiders sold 368,271 shares of company stock valued at $147,115,953 over the last 90 days. Company insiders own 3.99% of the company’s stock.
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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