Unionview LLC bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 982 shares of the computer hardware maker’s stock, valued at approximately $273,000.
Several other hedge funds have also recently added to or reduced their stakes in NVDA. Norges Bank bought a new stake in NVIDIA during the 4th quarter valued at $3,900,874,000. Moneta Group Investment Advisors LLC raised its stake in NVIDIA by 160,446.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares in the last quarter. Jennison Associates LLC increased its position in shares of NVIDIA by 34.8% during the 4th quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after purchasing an additional 6,013,647 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of NVIDIA by 9.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after purchasing an additional 5,043,685 shares during the period. Finally, Morgan Stanley increased its position in shares of NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after purchasing an additional 4,621,002 shares during the period. Institutional investors own 64.00% of the company’s stock.
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 directly owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 directly owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 368,271 shares of company stock worth $147,115,953. Company insiders own 3.99% of the company’s stock.
NVIDIA Price Performance
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The company had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was down 13.2% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Co. will post 6.43 EPS for the current fiscal year.
NVIDIA Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were paid 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 presently 8.33%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on NVDA. Susquehanna lifted their price target on NVIDIA from $450.00 to $575.00 and gave the company a “positive” rating in a research report on Thursday. The Goldman Sachs Group lifted their price target on NVIDIA from $440.00 to $495.00 in a research report on Monday, July 10th. Wells Fargo & Company lifted their price target on NVIDIA from $320.00 to $450.00 in a research report on Thursday, May 25th. Jefferies Financial Group lifted their price target on NVIDIA from $472.00 to $500.00 in a research report on Tuesday, June 20th. Finally, Needham & Company LLC lifted their target price on NVIDIA from $300.00 to $460.00 in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $421.58.
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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