FSM Wealth Advisors LLC increased its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 7.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,447 shares of the computer hardware maker’s stock after purchasing an additional 307 shares during the period. FSM Wealth Advisors LLC’s holdings in NVIDIA were worth $1,235,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in NVIDIA in the fourth quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC raised its holdings in NVIDIA by 160,446.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after purchasing an additional 19,574,443 shares in the last quarter. Jennison Associates LLC raised its holdings in NVIDIA by 34.8% during the fourth quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock worth $3,404,958,000 after purchasing an additional 6,013,647 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in NVIDIA by 9.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after purchasing an additional 5,043,685 shares in the last quarter. Finally, Morgan Stanley raised its holdings in NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have issued reports on NVDA. Piper Sandler boosted their target price on shares of NVIDIA from $440.00 to $450.00 in a research note on Thursday, June 29th. Mizuho boosted their price target on shares of NVIDIA from $290.00 to $400.00 in a report on Thursday, May 25th. Morgan Stanley upped their price objective on shares of NVIDIA from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, June 16th. KeyCorp upped their price objective on shares of NVIDIA from $500.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, TD Cowen upped their price objective on shares of NVIDIA from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $405.41.
NVIDIA Stock Up 0.5 %
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 earnings per share. Research analysts anticipate that NVIDIA Co. will post 6.31 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, June 7th. NVIDIA’s dividend payout ratio (DPR) is presently 8.33%.
Insider Activity
In other news, CFO Colette Kress sold 6,124 shares of NVIDIA stock in a transaction dated 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 owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Colette Kress sold 6,124 shares of NVIDIA stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the completion of the sale, the chief financial officer now owns 538,745 shares of the company’s stock, valued at approximately $219,005,229.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the sale, the director now directly owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The disclosure for this sale can be found here. Insiders sold a total of 368,271 shares of company stock valued at $147,115,953 in the last quarter. Company insiders own 3.99% of the company’s stock.
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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