Udine Wealth Management Inc. acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm acquired 828 shares of the computer hardware maker’s stock, valued at approximately $350,000. NVIDIA comprises 0.3% of Udine Wealth Management Inc.’s holdings, making the stock its 21st largest position.
Several other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Contravisory Investment Management Inc. bought a new position in NVIDIA in the 1st quarter worth about $28,000. Nordwand Advisors LLC bought a new position in shares of NVIDIA in the first quarter valued at approximately $28,000. Graham Capital Wealth Management LLC bought a new position in shares of NVIDIA in the first quarter valued at approximately $311,102,000. Quarry LP bought a new position in shares of NVIDIA in the first quarter valued at approximately $34,000. Finally, 25 LLC bought a new position in shares of NVIDIA in the first quarter valued at approximately $46,000. Institutional investors and hedge funds own 64.79% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently issued reports on NVDA. Benchmark increased their price objective on shares of NVIDIA from $475.00 to $625.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Jefferies Financial Group increased their price objective on shares of NVIDIA from $500.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Wolfe Research increased their price objective on shares of NVIDIA from $570.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, August 24th. Mizuho raised their target price on shares of NVIDIA from $530.00 to $590.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Wells Fargo & Company raised their target price on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.70.
Insider Activity at NVIDIA
In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $486.40, for a total value of $14,440,243.20. Following the sale, the chief executive officer now directly owns 7,800,125 shares in the company, valued at approximately $3,793,980,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $486.40, for a total value of $14,440,243.20. Following the sale, the chief executive officer now directly owns 7,800,125 shares in the company, valued at approximately $3,793,980,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now owns 1,030,786 shares in the company, valued at $482,490,310.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,515 shares of company stock worth $67,726,231. 3.99% of the stock is owned by insiders.
NVIDIA Stock Up 1.4 %
NVIDIA stock opened at $416.10 on Friday. The company has a market capitalization of $1.03 trillion, a P/E ratio of 100.51, a P/E/G ratio of 3.21 and a beta of 1.74. The firm’s fifty day simple moving average is $453.73 and its 200-day simple moving average is $371.63. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $502.66.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.19 billion. During the same period last year, the business posted $0.32 EPS. NVIDIA’s revenue was up 101.5% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 9.46 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 7th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is presently 3.86%.
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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