Secure Asset Management LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 25.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,995 shares of the computer hardware maker’s stock after selling 3,714 shares during the quarter. NVIDIA makes up 1.4% of Secure Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Secure Asset Management LLC’s holdings in NVIDIA were worth $4,651,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. NovaPoint Capital LLC lifted its stake in NVIDIA by 0.7% in the second quarter. NovaPoint Capital LLC now owns 4,680 shares of the computer hardware maker’s stock valued at $1,980,000 after buying an additional 31 shares during the period. Thomasville National Bank lifted its stake in NVIDIA by 2.6% in the second quarter. Thomasville National Bank now owns 1,279 shares of the computer hardware maker’s stock valued at $541,000 after buying an additional 33 shares during the period. Nikulski Financial Inc. lifted its stake in NVIDIA by 1.3% in the first quarter. Nikulski Financial Inc. now owns 2,675 shares of the computer hardware maker’s stock valued at $743,000 after buying an additional 35 shares during the period. Opal Wealth Advisors LLC lifted its stake in NVIDIA by 1.8% in the first quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the computer hardware maker’s stock valued at $584,000 after buying an additional 37 shares during the period. Finally, Bradley Foster & Sargent Inc. CT lifted its stake in NVIDIA by 0.3% in the first quarter. Bradley Foster & Sargent Inc. CT now owns 11,710 shares of the computer hardware maker’s stock valued at $3,253,000 after buying an additional 37 shares during the period. 64.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NVDA has been the topic of several analyst reports. Piper Sandler increased their target price on NVIDIA from $500.00 to $620.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. BNP Paribas upgraded NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price objective for the company in a report on Thursday, August 24th. Morgan Stanley increased their price objective on NVIDIA from $500.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Benchmark increased their price objective on NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, UBS Group increased their price target on NVIDIA from $540.00 to $560.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $555.70.
Insider Buying and Selling
In other NVIDIA news, Director John Dabiri sold 283 shares of NVIDIA stock in a transaction on Monday, June 26th. The shares were 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 of the company’s stock, valued at $1,019,296.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, CFO Colette Kress sold 4,980 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the completion of the sale, the chief financial officer now owns 499,428 shares in the company, valued at approximately $230,106,456.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 283 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were 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 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 145,515 shares of company stock valued at $67,726,231 over the last 90 days. Insiders own 3.99% of the company’s stock.
NVIDIA Price Performance
Shares of NVDA opened at $416.10 on Friday. NVIDIA Co. has a twelve month low of $108.13 and a twelve month high of $502.66. The company has a 50 day moving average of $453.73 and a two-hundred day moving average of $371.63. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.03 trillion, a price-to-earnings ratio of 100.51, a price-to-earnings-growth ratio of 3.21 and a beta of 1.74.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping the consensus estimate of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was up 101.5% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 9.46 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 7th will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.
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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