Empirical Asset Management LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 847 shares of the computer hardware maker’s stock, valued at approximately $235,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new position in NVIDIA during the first quarter worth about $28,000. GoalVest Advisory LLC boosted its stake in 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 during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in NVIDIA during the fourth quarter worth about $34,000. Financial Connections Group Inc. boosted its stake in 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 during the period. Finally, Chelsea Counsel Co. purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $37,000. 64.00% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the sale, the executive vice president now directly owns 139,860 shares in the company, valued at approximately $42,657,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 139,860 shares in the company, valued at approximately $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the completion of the sale, the director now owns 3,397,136 shares in the company, valued at $1,287,514,544. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 368,271 shares of company stock worth $147,115,953. Corporate insiders own 3.99% of the company’s stock.
NVIDIA Price Performance
NVIDIA (NASDAQ:NVDA – Free Report) last issued its 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 company had revenue of $7.19 billion for 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 business’s revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. Analysts forecast that NVIDIA Co. will post 6.31 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, June 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 8.33%.
Analyst Ratings Changes
Several research analysts have recently commented on NVDA shares. TheStreet raised shares of NVIDIA from a “c+” rating to a “b-” rating in a research note on Monday, March 20th. Morgan Stanley raised their price objective on shares of NVIDIA from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Friday, June 16th. Needham & Company LLC raised their price objective on shares of NVIDIA from $300.00 to $460.00 in a research note on Thursday, May 25th. Craig Hallum raised shares of NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research note on Thursday, May 25th. Finally, Westpark Capital started coverage on shares of NVIDIA in a research note on Wednesday, March 22nd. They issued a “hold” rating for the company. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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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