Worth Financial Advisory Group LLC cut its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,330 shares of the computer hardware maker’s stock after selling 110 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in NVIDIA were worth $647,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in NVDA. GoalVest Advisory LLC lifted its position in NVIDIA by 124.1% during the 4th quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after acquiring an additional 108 shares during the period. Contravisory Investment Management Inc. acquired a new stake in NVIDIA during the 1st quarter worth approximately $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in NVIDIA during the 4th quarter worth approximately $34,000. Financial Connections Group Inc. lifted its position in NVIDIA by 605.7% during the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after acquiring an additional 212 shares during the period. Finally, NewSquare Capital LLC acquired a new stake in NVIDIA during the 4th quarter worth approximately $37,000. 64.00% of the stock is owned by institutional investors and hedge funds.
NVIDIA Trading Up 0.3 %
Shares of NVDA opened at $424.13 on Wednesday. The stock’s 50-day moving average is $358.20 and its two-hundred day moving average is $267.50. The stock has a market cap of $1.05 trillion, a PE ratio of 220.90, a P/E/G ratio of 2.92 and a beta of 1.74. NVIDIA Co. has a 12 month low of $108.13 and a 12 month 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.
NVIDIA Dividend Announcement
The firm also recently announced 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. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s payout ratio is 8.33%.
Analysts Set New Price Targets
A number of research firms have weighed in on NVDA. Wedbush raised NVIDIA from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $290.00 to $490.00 in a research report on Thursday, May 25th. Citigroup increased their target price on NVIDIA from $363.00 to $420.00 in a research note on Thursday, May 25th. TD Cowen increased their target price on NVIDIA from $260.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 22nd. Deutsche Bank Aktiengesellschaft increased their target price on NVIDIA from $220.00 to $390.00 in a research note on Thursday, May 25th. Finally, Morgan Stanley increased their target price on NVIDIA from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $392.70.
Insider Transactions at NVIDIA
In other news, EVP Debora Shoquist sold 23,084 shares of NVIDIA 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 sale, the executive vice president now directly 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 this hyperlink. In related news, 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 value of $37,900,000.00. Following the completion of the sale, the director now directly owns 3,397,136 shares of the company’s stock, valued at $1,287,514,544. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 368,271 shares of company stock valued at $147,115,953. 3.99% of the stock is currently owned by insiders.
NVIDIA 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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