Marietta Wealth Management LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 17.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,549 shares of the computer hardware maker’s stock after selling 5,538 shares during the quarter. NVIDIA accounts for 2.0% of Marietta Wealth Management LLC’s holdings, making the stock its 8th biggest position. Marietta Wealth Management LLC’s holdings in NVIDIA were worth $10,808,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new stake in shares of NVIDIA in the 1st quarter valued at approximately $28,000. Nordwand Advisors LLC bought a new position in NVIDIA during the 1st quarter worth $28,000. Graham Capital Wealth Management LLC bought a new position in NVIDIA during the 1st quarter worth $311,102,000. Quarry LP bought a new position in shares of NVIDIA in the first quarter worth $34,000. Finally, 25 LLC bought a new position in shares of NVIDIA in the first quarter worth $46,000. 64.79% of the stock is owned by institutional investors.
Insider Buying and Selling at NVIDIA
In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the sale, the director now owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Mark A. Stevens sold 21,500 shares of the company’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 sale, the director now owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 145,232 shares of company stock valued at $67,606,089 over the last quarter. 3.99% of the stock is owned by company insiders.
NVIDIA Trading Down 2.8 %
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced 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. The company had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 earnings per share. Analysts predict that NVIDIA Co. will post 9.46 EPS for the current fiscal year.
NVIDIA Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders 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 payout ratio is 3.86%.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Craig Hallum lifted their price target on NVIDIA from $500.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Jefferies Financial Group lifted their target price on NVIDIA from $500.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Wells Fargo & Company lifted their target price on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $440.00 to $560.00 and gave the company a “hold” rating in a report on Thursday, August 24th. Finally, BMO Capital Markets boosted their price objective on NVIDIA from $450.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, August 21st. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $558.95.
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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