Marcum Wealth LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 35.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,820 shares of the computer hardware maker’s stock after acquiring an additional 2,837 shares during the period. NVIDIA comprises about 0.4% of Marcum Wealth LLC’s investment portfolio, making the stock its 27th biggest holding. Marcum Wealth LLC’s holdings in NVIDIA were worth $3,005,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in NVDA. GoalVest Advisory LLC raised 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 valued at $28,000 after buying an additional 108 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of NVIDIA during the first quarter valued at approximately $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of NVIDIA during the fourth quarter valued at approximately $34,000. Financial Connections Group Inc. increased its stake 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 valued at $36,000 after acquiring an additional 212 shares during the period. Finally, NewSquare Capital LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at approximately $37,000. Institutional investors own 64.00% of the company’s stock.
Insider Buying and Selling
In related news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction 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 in the company, valued at approximately $42,657,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Friday, May 26th. The shares were sold at an average price of $379.00, for a total value of $37,900,000.00. Following the transaction, the director now owns 3,397,136 shares in the company, valued at approximately $1,287,514,544. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Debora Shoquist sold 23,084 shares of the business’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 transaction, the executive vice president now owns 139,860 shares in the company, valued at approximately $42,657,300. The disclosure for this sale can be found here. Insiders have sold 368,271 shares of company stock worth $147,115,953 in the last quarter. 3.99% of the stock is currently owned by company insiders.
NVIDIA Stock Up 0.3 %
NVIDIA (NASDAQ:NVDA – Free Report) last released its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same quarter in the previous year, the business earned $1.18 EPS. NVIDIA’s quarterly revenue was down 13.2% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 6.31 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were issued a $0.04 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.16 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is presently 8.33%.
Analysts Set New Price Targets
NVDA has been the topic of a number of research analyst reports. Westpark Capital initiated coverage on shares of NVIDIA in a research note on Wednesday, March 22nd. They set a “hold” rating on the stock. Truist Financial raised their price objective on shares of NVIDIA from $322.00 to $470.00 in a research note on Thursday, May 25th. StockNews.com initiated coverage on shares of NVIDIA in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Craig Hallum upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research note on Thursday, May 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of NVIDIA from $250.00 to $500.00 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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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