West Michigan Advisors LLC reduced its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 42.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,112 shares of the computer hardware maker’s stock after selling 4,565 shares during the period. NVIDIA makes up about 1.0% of West Michigan Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. West Michigan Advisors LLC’s holdings in NVIDIA were worth $1,698,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of NVDA. GoalVest Advisory LLC lifted its holdings in NVIDIA by 124.1% in the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 108 shares during the period. Contravisory Investment Management Inc. acquired a new position in NVIDIA in the first quarter valued at approximately $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in NVIDIA in the fourth quarter worth $34,000. Financial Connections Group Inc. raised its holdings in NVIDIA by 605.7% in the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after purchasing an additional 212 shares during the period. Finally, NewSquare Capital LLC acquired a new stake in NVIDIA in the fourth quarter worth $37,000. 64.00% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. TheStreet upgraded shares of NVIDIA from a “c+” rating to a “b-” rating in a report on Monday, March 20th. HSBC upgraded shares of NVIDIA from a “reduce” rating to a “buy” rating and increased their target price for the stock from $175.00 to $355.00 in a report on Tuesday, April 18th. Jefferies Financial Group increased their target price on shares of NVIDIA from $472.00 to $500.00 in a report on Tuesday, June 20th. The Goldman Sachs Group increased their target price on shares of NVIDIA from $275.00 to $440.00 in a report on Thursday, May 25th. Finally, Susquehanna increased their target price on shares of NVIDIA from $350.00 to $450.00 in a report 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.19.
NVIDIA Stock Performance
NVIDIA (NASDAQ:NVDA – Free Report) last posted its 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. 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%. NVIDIA’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 6.31 EPS for the current year.
NVIDIA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were paid 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 dividend payout ratio (DPR) is 8.33%.
Insiders Place Their Bets
In other NVIDIA news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction dated 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 in the company, 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 news, CFO Colette Kress sold 6,124 shares of the business’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 transaction, the chief financial officer now directly owns 538,745 shares in the company, valued at approximately $219,005,229.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 283 shares of the business’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 transaction of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The disclosure for this sale can be found here. Insiders sold 368,271 shares of company stock worth $147,115,953 in the last quarter. 3.99% of the stock is currently owned by corporate 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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