ZWJ Investment Counsel Inc. lessened its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,270 shares of the computer hardware maker’s stock after selling 7,110 shares during the period. NVIDIA comprises 2.4% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 10th biggest holding. ZWJ Investment Counsel Inc.’s holdings in NVIDIA were worth $42,852,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. United Bank grew its position in NVIDIA by 28.9% in the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after purchasing an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NVIDIA by 6.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after acquiring an additional 249,045 shares during the period. MAS Advisors LLC grew its position in shares of NVIDIA by 42.1% during the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares during the period. Navis Wealth Advisors LLC grew its position in shares of NVIDIA by 205.3% during the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after acquiring an additional 1,950 shares during the period. Finally, Ergoteles LLC bought a new position in shares of NVIDIA during the 1st quarter valued at approximately $929,000. Institutional investors and hedge funds own 64.00% of the company’s stock.
NVIDIA Trading Down 1.1 %
NASDAQ NVDA opened at $454.69 on Friday. The company has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 236.82, a PEG ratio of 3.16 and a beta of 1.74. The stock’s 50-day simple moving average is $382.95 and its two-hundred day simple moving average is $282.29. 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 twelve month low of $108.13 and a twelve month high of $480.88.
NVIDIA Announces Dividend
The business also recently disclosed 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 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is currently 8.33%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on NVDA shares. TD Cowen increased their target price on shares of NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, March 22nd. Tigress Financial increased their target price on shares of NVIDIA from $320.00 to $560.00 in a research report on Friday, July 7th. UBS Group increased their target price on shares of NVIDIA from $315.00 to $475.00 in a research report on Thursday, May 25th. BNP Paribas upgraded shares of NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 price objective for the company in a research note on Tuesday, March 21st. Finally, Westpark Capital began coverage on NVIDIA in a research report on Wednesday, March 22nd. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $407.43.
Insider Transactions at NVIDIA
In other news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 3,397,136 shares in the company, valued at $1,287,514,544. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 368,271 shares of company stock worth $147,115,953. Company insiders own 3.99% of the company’s stock.
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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