Fortem Financial Group LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,324 shares of the computer hardware maker’s stock after purchasing an additional 428 shares during the period. NVIDIA accounts for about 2.0% of Fortem Financial Group LLC’s investment portfolio, making the stock its 6th biggest holding. Fortem Financial Group LLC’s holdings in NVIDIA were worth $3,145,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. United Bank grew its stake in shares of NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after acquiring an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NVIDIA by 6.8% in 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 buying an additional 249,045 shares in the last quarter. MAS Advisors LLC grew its holdings in shares of NVIDIA by 42.1% during the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after buying an additional 583 shares during the last quarter. Navis Wealth Advisors LLC raised its holdings in NVIDIA by 205.3% in the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after acquiring an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC bought a new stake in shares of NVIDIA in the 1st quarter worth $929,000. 64.00% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on NVDA. Evercore ISI increased their price objective on shares of NVIDIA from $320.00 to $500.00 in a research note on Thursday, May 25th. Rosenblatt Securities reissued a “buy” rating and issued a $320.00 price objective on shares of NVIDIA in a research note on Wednesday, March 22nd. Craig Hallum upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research report on Thursday, May 25th. Bank of America increased their price target on NVIDIA from $450.00 to $500.00 in a report on Wednesday, May 31st. Finally, Wedbush raised NVIDIA from a “neutral” rating to an “outperform” rating and upped their target price for the company from $290.00 to $490.00 in a research note 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $399.19.
Insiders Place Their Bets
NVIDIA Stock Performance
Shares of NVIDIA stock opened at $425.03 on Friday. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 221.37, a P/E/G ratio of 2.93 and a beta of 1.74. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $439.90. The firm’s 50 day moving average is $367.20 and its two-hundred day moving average is $272.25.
NVIDIA (NASDAQ:NVDA – Free Report) last released its quarterly earnings results 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. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same quarter last year, the business posted $1.18 EPS. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. Research analysts forecast that NVIDIA Co. will post 6.31 EPS for the current fiscal year.
NVIDIA Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is 8.33%.
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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