Redwood Wealth Management Group LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 3.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,526 shares of the computer hardware maker’s stock after selling 100 shares during the period. Redwood Wealth Management Group LLC’s holdings in NVIDIA were worth $702,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Norges Bank acquired a new stake in NVIDIA in the fourth quarter worth about $3,900,874,000. Moneta Group Investment Advisors LLC boosted its stake in 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 worth $2,862,392,000 after purchasing an additional 19,574,443 shares in the last quarter. Proficio Capital Partners LLC grew its position in NVIDIA by 178,831.3% during the 1st quarter. Proficio Capital Partners LLC now owns 12,179,851 shares of the computer hardware maker’s stock worth $12,235,000 after purchasing an additional 12,173,044 shares during the last quarter. Jennison Associates LLC increased its stake in NVIDIA by 34.8% during 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 purchasing an additional 6,013,647 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of NVIDIA by 9.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after buying an additional 5,043,685 shares during the last quarter. Hedge funds and other institutional investors own 64.00% of the company’s stock.
Insiders Place Their Bets
In other news, EVP Debora Shoquist sold 23,084 shares of the company’s 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 directly owns 139,860 shares in the company, valued at approximately $42,657,300. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the business’s 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 sale, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 6,124 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total value of $2,489,467.24. Following the transaction, the chief financial officer now owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The disclosure for this sale can be found here. Insiders sold a total of 368,271 shares of company stock valued at $147,115,953 over the last 90 days. 3.99% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
NVIDIA Stock Performance
NASDAQ:NVDA opened at $424.13 on Tuesday. The company’s 50-day moving average is $354.97 and its two-hundred day moving average is $265.68. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $439.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 220.90, a PEG ratio of 2.91 and a beta of 1.74.
NVIDIA (NASDAQ:NVDA – Free Report) last released its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The firm had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 earnings per share. Analysts forecast that NVIDIA Co. will post 6.31 EPS for the current 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 $0.04 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is currently 8.33%.
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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