Freedom Day Solutions LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 7.1% during the first quarter, Holdings Channel.com reports. The fund owned 13,598 shares of the computer hardware maker’s stock after selling 1,041 shares during the period. NVIDIA accounts for about 1.8% of Freedom Day Solutions LLC’s investment portfolio, making the stock its 6th biggest position. Freedom Day Solutions LLC’s holdings in NVIDIA were worth $3,777,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Contravisory Investment Management Inc. purchased a new stake in NVIDIA during the 1st quarter worth approximately $28,000. GoalVest Advisory LLC increased its stake in NVIDIA by 124.1% during the 4th quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after buying an additional 108 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in NVIDIA during the 4th quarter worth approximately $34,000. Financial Connections Group Inc. increased its stake in NVIDIA by 605.7% during the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after buying an additional 212 shares during the period. Finally, Chelsea Counsel Co. purchased a new stake in NVIDIA during the 4th quarter worth approximately $37,000. 64.00% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Stock Performance
NVDA opened at $439.02 on Thursday. The firm has a market cap of $1.08 trillion, a PE ratio of 228.66, a P/E/G ratio of 2.91 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. The business has a fifty day simple moving average of $375.91 and a 200-day simple moving average of $277.94. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $439.90.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 8.33%.
Insider Activity
In other news, Director John Dabiri sold 283 shares of the stock in a transaction on Monday, June 26th. The stock was 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 $1,019,296.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John Dabiri sold 283 shares of the 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 completion of the sale, the director now directly owns 2,401 shares in the company, valued at $1,019,296.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $379.00, for a total value of $37,900,000.00. Following the sale, the director now owns 3,397,136 shares of the company’s stock, valued at $1,287,514,544. The disclosure for this sale can be found here. Insiders sold 368,271 shares of company stock worth $147,115,953 over the last quarter. Corporate insiders own 3.99% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of NVIDIA from $350.00 to $450.00 in a research report on Thursday, May 25th. Robert W. Baird upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and increased their price target for the company from $300.00 to $475.00 in a report on Thursday, May 25th. Sanford C. Bernstein increased their price target on shares of NVIDIA from $300.00 to $475.00 in a report on Thursday, May 25th. TD Cowen raised their target price on shares of NVIDIA from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 22nd. Finally, Susquehanna lifted their price target on shares of NVIDIA from $350.00 to $450.00 in a research report on Thursday, May 25th. One research 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 company’s stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $405.41.
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.
Read More
- Five stocks we like better than NVIDIA
- Contrarian Play: Beyond Meat Is At An Inflection Point
- Alibaba Just Flashed Green, Very Green
- This Small Cap Stock Surged Over 100%
- The CPI Data Isn’t As Good As You Think It Is
- How to Invest in Gold and Silver
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA – Free Report).
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.
