Abundance Wealth Counselors cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,554 shares of the computer hardware maker’s stock after selling 497 shares during the period. NVIDIA accounts for about 1.9% of Abundance Wealth Counselors’ investment portfolio, making the stock its 7th biggest holding. Abundance Wealth Counselors’ holdings in NVIDIA were worth $3,619,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $28,000. Nordwand Advisors LLC acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $28,000. Quarry LP acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $34,000. Financial Connections Group Inc. lifted its position in shares of NVIDIA by 605.7% in the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after buying an additional 212 shares during the last quarter. Finally, Chelsea Counsel Co. acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $37,000. 64.79% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Bank of America raised their price objective on NVIDIA from $550.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Jefferies Financial Group increased their target price on NVIDIA from $500.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Craig Hallum increased their target price on NVIDIA from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Evercore ISI increased their target price on NVIDIA to $600.00 in a research note on Thursday, August 24th. Finally, Wolfe Research increased their target price on NVIDIA from $570.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $558.95.
Insider Buying and Selling
In related news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the transaction, the chief executive officer now directly owns 7,918,875 shares of the company’s stock, valued at approximately $3,595,248,438.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the transaction, the chief executive officer now directly owns 7,918,875 shares of the company’s stock, valued at approximately $3,595,248,438.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 21,500 shares of the company’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 transaction, the director now directly 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 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is owned by company insiders.
NVIDIA Stock Up 1.2 %
Shares of NVIDIA stock opened at $440.41 on Thursday. NVIDIA Co. has a one year low of $108.13 and a one year high of $502.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. The stock’s 50-day moving average is $449.51 and its 200 day moving average is $383.26. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 106.38, a PEG ratio of 3.51 and a beta of 1.76.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, beating the consensus estimate of $2.08 by $0.62. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The company had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 9.46 EPS for the current year.
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 dividend yield of 0.04%. NVIDIA’s payout ratio is 3.86%.
NVIDIA 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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