D.B. Root & Company LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 32.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,429 shares of the computer hardware maker’s stock after selling 1,143 shares during the period. D.B. Root & Company LLC’s holdings in NVIDIA were worth $1,028,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after purchasing an additional 5,043,685 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of NVIDIA by 0.6% in the first 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 acquiring an additional 267,061 shares in the last quarter. Morgan Stanley boosted its holdings in shares of NVIDIA by 20.2% in the fourth 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 in the last quarter. Norges Bank bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $3,900,874,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of NVIDIA by 1.5% in the first 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 in the last quarter. Institutional investors own 64.79% of the company’s stock.
NVIDIA Price Performance
NVDA stock opened at $435.17 on Wednesday. The firm has a market cap of $1.07 trillion, a P/E ratio of 105.11, a P/E/G ratio of 3.40 and a beta of 1.76. 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’s 50-day moving average price is $449.79 and its two-hundred day moving average price is $382.85. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $502.66.
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 given a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio is presently 3.86%.
Insider Buying and Selling
In related news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the sale, the chief executive officer now directly owns 7,918,875 shares in the company, valued at approximately $3,595,248,438.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the sale, the chief executive officer now directly owns 7,918,875 shares in the company, valued at approximately $3,595,248,438.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the transaction, the chief financial officer now owns 499,428 shares in the company, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Insiders have sold a total of 145,232 shares of company stock worth $67,606,089 in the last ninety days. Company insiders own 3.99% of the company’s stock.
Wall Street Analyst Weigh In
NVDA has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on shares of NVIDIA from $450.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, August 21st. Rosenblatt Securities restated a “buy” rating on shares of NVIDIA in a report on Wednesday, September 20th. Craig Hallum lifted their price objective on shares of NVIDIA from $500.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. KeyCorp lifted their price objective on shares of NVIDIA from $670.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Robert W. Baird lifted their price objective on shares of NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $558.95.
Check Out Our Latest Stock Analysis on NVIDIA
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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