Proffitt & Goodson Inc. decreased its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 31.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,261 shares of the computer hardware maker’s stock after selling 2,460 shares during the period. Proffitt & Goodson Inc.’s holdings in NVIDIA were worth $2,226,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new stake in NVIDIA during the first quarter worth $28,000. Nordwand Advisors LLC acquired a new stake in NVIDIA during the first quarter worth $28,000. Quarry LP acquired a new stake in NVIDIA during the first quarter worth $34,000. Financial Connections Group Inc. boosted its stake in NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after buying an additional 212 shares in the last quarter. Finally, Chelsea Counsel Co. acquired a new stake in NVIDIA during the fourth quarter worth $37,000. Institutional investors and hedge funds own 64.79% of the company’s stock.
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 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 can be accessed through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the 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 sale, the chief executive officer now owns 7,800,125 shares in the company, valued at $3,793,980,800. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 21,500 shares of the 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 sale, the director now owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,232 shares of company stock valued at $67,606,089. Corporate insiders own 3.99% of the company’s stock.
Analyst Ratings Changes
View Our Latest Analysis on NVDA
NVIDIA Stock Down 2.8 %
Shares of NVDA stock opened at $435.17 on Wednesday. The firm has a fifty day moving average of $449.79 and a 200-day moving average of $382.85. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $502.66. The company has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 105.11, a P/E/G ratio of 3.40 and a beta of 1.76.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. The business had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, equities research analysts predict that NVIDIA Co. will post 9.46 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is currently 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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