Verdence Capital Advisors LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,224 shares of the computer hardware maker’s stock after purchasing an additional 62 shares during the period. Verdence Capital Advisors LLC’s holdings in NVIDIA were worth $1,451,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. David J Yvars Group lifted its position in shares of NVIDIA by 1.5% during the 1st quarter. David J Yvars Group now owns 11,708 shares of the computer hardware maker’s stock worth $3,252,000 after purchasing an additional 168 shares during the last quarter. Personal Capital Advisors Corp raised its holdings 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 valued at $91,001,000 after acquiring an additional 143,483 shares in the last quarter. Alta Wealth Advisors LLC raised its holdings in NVIDIA by 14.9% in the 1st quarter. Alta Wealth Advisors LLC now owns 6,650 shares of the computer hardware maker’s stock valued at $1,847,000 after acquiring an additional 863 shares in the last quarter. Avala Global LP acquired a new position in NVIDIA in the 4th quarter valued at approximately $16,455,000. Finally, DGS Capital Management LLC raised its holdings in NVIDIA by 9.0% in the 4th quarter. DGS Capital Management LLC now owns 3,036 shares of the computer hardware maker’s stock valued at $444,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.
Analyst Ratings Changes
Several research firms have commented on NVDA. TD Cowen upped their price target on NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, March 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $320.00 price target on shares of NVIDIA in a report on Wednesday, March 22nd. Tigress Financial upped their price target on NVIDIA from $320.00 to $560.00 in a report on Friday, July 7th. Wedbush raised NVIDIA from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $290.00 to $490.00 in a report on Thursday, May 25th. Finally, Robert W. Baird raised NVIDIA from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $300.00 to $475.00 in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $405.41.
NVIDIA Price Performance
NVIDIA (NASDAQ:NVDA – Get 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 the consensus estimate of $0.92 by $0.17. The company had revenue of $7.19 billion during the quarter, compared to analyst estimates 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 previous year, the company earned $1.18 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 6.31 EPS for the current year.
NVIDIA Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 8.33%.
Insider Activity at NVIDIA
In related news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The disclosure for this sale can be found here. In the last three months, insiders sold 368,271 shares of company stock worth $147,115,953. 3.99% of the stock is owned by company 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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