McGuire Investment Group LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,775 shares of the computer hardware maker’s stock after selling 340 shares during the period. NVIDIA makes up approximately 2.9% of McGuire Investment Group LLC’s holdings, making the stock its 12th largest position. McGuire Investment Group LLC’s holdings in NVIDIA were worth $14,382,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Personal Capital Advisors Corp grew its position in NVIDIA by 29.9% in the 4th quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock worth $91,001,000 after purchasing an additional 143,483 shares during the period. Avala Global LP purchased a new position in shares of NVIDIA during the 4th quarter worth $16,455,000. DGS Capital Management LLC boosted its stake in shares of NVIDIA by 9.0% during the 4th quarter. DGS Capital Management LLC now owns 3,036 shares of the computer hardware maker’s stock worth $444,000 after acquiring an additional 250 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of NVIDIA by 22.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 43,143 shares of the computer hardware maker’s stock worth $11,984,000 after acquiring an additional 7,988 shares during the last quarter. Finally, Bill Few Associates Inc. boosted its stake in shares of NVIDIA by 3.7% during the 1st quarter. Bill Few Associates Inc. now owns 12,392 shares of the computer hardware maker’s stock worth $3,442,000 after acquiring an additional 441 shares during the last quarter. Institutional investors own 64.00% of the company’s stock.
Insider Transactions at NVIDIA
In other news, CFO Colette Kress sold 6,124 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the sale, the chief financial officer now owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John Dabiri sold 283 shares of the company’s stock in a transaction that occurred on 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 approximately $1,019,296.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 6,124 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the sale, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 368,271 shares of company stock valued at $147,115,953. Company insiders own 3.99% of the company’s stock.
NVIDIA Price Performance
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. The company had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 EPS. On average, research analysts forecast that NVIDIA Co. will post 6.31 earnings per share for the current year.
NVIDIA Dividend Announcement
The business also recently disclosed 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 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is 8.33%.
Analyst Ratings Changes
Several brokerages have recently weighed in on NVDA. Tigress Financial lifted their price target on shares of NVIDIA from $250.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th. Truist Financial lifted their target price on shares of NVIDIA from $322.00 to $470.00 in a research note on Thursday, May 25th. The Goldman Sachs Group lifted their target price on shares of NVIDIA from $275.00 to $440.00 in a research note on Thursday, May 25th. Oppenheimer lifted their target price on shares of NVIDIA from $350.00 to $420.00 in a research note on Thursday, May 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $250.00 to $500.00 in a research note on Thursday, May 25th. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $392.70.
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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