Raleigh Capital Management Inc. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 194.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 433 shares of the computer hardware maker’s stock after purchasing an additional 286 shares during the period. Raleigh Capital Management Inc.’s holdings in NVIDIA were worth $120,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of NVDA. Contravisory Investment Management Inc. acquired a new stake in shares of NVIDIA in the 1st quarter valued at approximately $28,000. Nordwand Advisors LLC acquired a new stake in NVIDIA in the 1st quarter valued at about $28,000. Graham Capital Wealth Management LLC acquired a new stake in NVIDIA in the 1st quarter valued at about $311,102,000. Quarry LP acquired a new stake in NVIDIA in the 1st quarter valued at about $34,000. Finally, 25 LLC acquired a new stake in NVIDIA in the 1st quarter valued at about $46,000. 64.79% of the stock is currently owned by institutional investors.
NVIDIA Trading Up 0.2 %
NASDAQ NVDA opened at $455.81 on Friday. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $502.66. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.13 trillion, a PE ratio of 110.10, a price-to-earnings-growth ratio of 3.71 and a beta of 1.74. The business’s 50-day moving average price is $454.27 and its two-hundred day moving average price is $362.92.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on NVDA shares. HSBC raised their price target on NVIDIA from $600.00 to $780.00 and gave the company a “buy” rating in a report on Monday, August 21st. Craig Hallum raised their price target on NVIDIA from $500.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Stifel Nicolaus raised NVIDIA from a “hold” rating to a “buy” rating and raised their price target for the company from $440.00 to $600.00 in a report on Thursday, August 24th. Jefferies Financial Group raised their price objective on shares of NVIDIA from $500.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, TD Cowen raised their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $555.70.
View Our Latest Stock Report on NVDA
Insider Transactions at NVIDIA
In other news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $432.06, for a total transaction of $17,282,400.00. Following the completion of the sale, the director now directly owns 1,052,286 shares in the company, valued at $454,650,689.16. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director John Dabiri sold 283 shares of the firm’s stock in a transaction that occurred 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 owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $432.06, for a total transaction of $17,282,400.00. Following the completion of the sale, the director now owns 1,052,286 shares of the company’s stock, valued at $454,650,689.16. The disclosure for this sale can be found here. Insiders sold a total of 185,515 shares of company stock worth $85,008,631 over the last three months. 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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