Palo Alto Wealth Advisors LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 13.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,104 shares of the computer hardware maker’s stock after acquiring an additional 252 shares during the quarter. NVIDIA makes up 0.5% of Palo Alto Wealth Advisors LLC’s investment portfolio, making the stock its 28th largest position. Palo Alto Wealth Advisors LLC’s holdings in NVIDIA were worth $584,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in NVDA. Contravisory Investment Management Inc. purchased a new stake in shares of NVIDIA during the first quarter worth about $28,000. GoalVest Advisory LLC grew its holdings in shares of NVIDIA by 124.1% during the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after buying an additional 108 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of NVIDIA during the fourth quarter worth about $34,000. Financial Connections Group Inc. grew its holdings in shares of NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after buying an additional 212 shares in the last quarter. Finally, Chelsea Counsel Co. purchased a new stake in shares of NVIDIA during the fourth quarter worth about $37,000. 64.00% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at NVIDIA
In related news, Director John Dabiri sold 283 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $424.53, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John Dabiri sold 283 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $424.53, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The disclosure for this sale can be found here. Over the last quarter, insiders sold 368,271 shares of company stock worth $147,115,953. Insiders own 3.99% of the company’s stock.
NVIDIA Stock Up 3.6 %
NVIDIA (NASDAQ:NVDA – Free Report) last released its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, topping the consensus estimate of $0.92 by $0.17. The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The company’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 earnings per share. As a group, equities analysts expect that NVIDIA Co. will post 6.31 earnings per share for the current year.
NVIDIA Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were given 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 dividend yield of 0.04%. NVIDIA’s dividend payout ratio is currently 8.33%.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. TheStreet upgraded shares of NVIDIA from a “c+” rating to a “b-” rating in a report on Monday, March 20th. Bank of America boosted their target price on shares of NVIDIA from $450.00 to $500.00 in a report on Wednesday, May 31st. KeyCorp boosted their target price on shares of NVIDIA from $320.00 to $375.00 in a report on Monday, May 22nd. Tigress Financial boosted their target price on shares of NVIDIA from $250.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, March 30th. Finally, TD Cowen boosted their target price on shares of NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $392.70.
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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