LGT Group Foundation increased its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 279,406 shares of the computer hardware maker’s stock after buying an additional 5,623 shares during the quarter. NVIDIA comprises about 2.2% of LGT Group Foundation’s portfolio, making the stock its 9th biggest position. LGT Group Foundation’s holdings in NVIDIA were worth $77,611,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Personal Capital Advisors Corp raised its holdings in shares of 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 acquiring an additional 143,483 shares during the last quarter. Avala Global LP purchased a new stake in shares of NVIDIA in the fourth quarter worth approximately $16,455,000. DGS Capital Management LLC lifted its holdings in shares of NVIDIA by 9.0% in the fourth quarter. DGS Capital Management LLC now owns 3,036 shares of the computer hardware maker’s stock valued at $444,000 after purchasing an additional 250 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of NVIDIA by 22.7% during the first quarter. Valeo Financial Advisors LLC now owns 43,143 shares of the computer hardware maker’s stock valued at $11,984,000 after buying an additional 7,988 shares during the last quarter. Finally, Bill Few Associates Inc. grew its holdings in NVIDIA by 3.7% during the first quarter. Bill Few Associates Inc. now owns 12,392 shares of the computer hardware maker’s stock worth $3,442,000 after buying an additional 441 shares in the last quarter. Institutional investors own 64.00% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Susquehanna raised their price objective on NVIDIA from $350.00 to $450.00 in a research note on Thursday, May 25th. Sanford C. Bernstein boosted their price target on shares of NVIDIA from $300.00 to $475.00 in a report on Thursday, May 25th. Piper Sandler increased their price objective on shares of NVIDIA from $440.00 to $450.00 in a research note on Thursday, June 29th. Barclays boosted their target price on NVIDIA from $275.00 to $500.00 in a research note on Thursday, May 25th. Finally, Westpark Capital initiated coverage on NVIDIA in a research report on Wednesday, March 22nd. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $392.70.
NVIDIA Stock Up 0.3 %
NVIDIA (NASDAQ:NVDA – Free Report) last posted its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The firm had revenue of $7.19 billion during 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 company’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 EPS. As a group, research analysts anticipate that NVIDIA Co. will post 6.31 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently declared 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. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s payout ratio is currently 8.33%.
Insiders Place Their Bets
In other news, Director John Dabiri sold 283 shares of the company’s stock in a transaction 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. 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 completion of the sale, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 283 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares in the company, valued at approximately $1,019,296.53. 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 corporate insiders.
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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