Forsta AP Fonden cut its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 18.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588,700 shares of the computer hardware maker’s stock after selling 137,100 shares during the quarter. NVIDIA accounts for 1.9% of Forsta AP Fonden’s portfolio, making the stock its 4th biggest holding. Forsta AP Fonden’s holdings in NVIDIA were worth $163,523,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. United Bank raised its stake in shares of NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after buying an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in NVIDIA by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after acquiring an additional 249,045 shares during the last quarter. MAS Advisors LLC lifted its holdings in shares of NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after purchasing an additional 583 shares in the last quarter. Navis Wealth Advisors LLC grew its position in shares of NVIDIA by 205.3% in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after purchasing an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC purchased a new position in shares of NVIDIA during the 1st quarter worth approximately $929,000. Institutional investors and hedge funds own 64.00% of the company’s stock.
NVIDIA Trading Up 1.0 %
Shares of NASDAQ:NVDA opened at $425.03 on Friday. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $439.90. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.05 trillion, a PE ratio of 221.37, a P/E/G ratio of 2.90 and a beta of 1.74. The company’s 50-day moving average price is $367.20 and its 200 day moving average price is $271.47.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s payout ratio is currently 8.33%.
Insider Activity at NVIDIA
In other NVIDIA news, 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 transaction of $7,040,620.00. Following the sale, the executive vice president now directly owns 139,860 shares in the company, valued at approximately $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction 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 transaction, the director now directly owns 2,401 shares in the company, valued at approximately $1,019,296.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction 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 directly owns 139,860 shares in the company, valued at approximately $42,657,300. The disclosure for this sale can be found here. Insiders sold 368,271 shares of company stock worth $147,115,953 in the last 90 days. Corporate insiders own 3.99% of the company’s stock.
Wall Street Analysts Forecast Growth
NVDA has been the subject of a number of recent research reports. UBS Group lifted their price objective on NVIDIA from $315.00 to $475.00 in a research report on Thursday, May 25th. TD Cowen boosted their price objective on shares of NVIDIA from $260.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 22nd. Tigress Financial lifted their target price on shares of NVIDIA from $320.00 to $560.00 in a report on Friday. Wedbush upgraded NVIDIA from a “neutral” rating to an “outperform” rating and increased their price target for the company from $290.00 to $490.00 in a report on Thursday, May 25th. Finally, Craig Hallum raised NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $399.19.
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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