Wealth Advisors Inc. trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 15.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,556 shares of the computer hardware maker’s stock after selling 4,019 shares during the quarter. NVIDIA comprises about 4.2% of Wealth Advisors Inc.’s holdings, making the stock its 8th biggest holding. Wealth Advisors Inc.’s holdings in NVIDIA were worth $9,902,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in 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 last quarter. Geode Capital Management LLC grew its position in NVIDIA by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after purchasing an additional 267,061 shares during the last quarter. Morgan Stanley lifted its stake in 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 acquiring an additional 4,621,002 shares during the period. Norges Bank bought a new position in NVIDIA during the 4th quarter valued at about $3,900,874,000. Finally, Bank of New York Mellon Corp lifted its stake in NVIDIA by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 21,702,416 shares of the computer hardware maker’s stock valued at $6,028,280,000 after acquiring an additional 322,662 shares during the period. 64.79% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Trading Up 1.0 %
Shares of NVDA opened at $434.99 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $502.66. The company has a 50 day simple moving average of $450.19 and a two-hundred day simple moving average of $379.28. The firm has a market cap of $1.07 trillion, a P/E ratio of 105.07, a price-to-earnings-growth ratio of 3.37 and a beta of 1.74.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.
Analysts Set New Price Targets
NVDA has been the topic of several research analyst reports. Piper Sandler upped their target price on shares of NVIDIA from $500.00 to $620.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Wells Fargo & Company upped their target price on shares of NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. BMO Capital Markets upped their target price on shares of NVIDIA from $450.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, August 21st. Citigroup upped their target price on shares of NVIDIA from $520.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, Craig Hallum increased their price objective on shares of NVIDIA from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. One equities research 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $555.70.
View Our Latest Stock Report on NVIDIA
Insider Activity at NVIDIA
In related 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 completion of the transaction, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at $3,793,980,800. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related 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 completion of the transaction, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at $3,793,980,800. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the transaction, the director now directly owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is owned by corporate 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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