Jessup Wealth Management Inc decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 61.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,105 shares of the computer hardware maker’s stock after selling 19,174 shares during the quarter. NVIDIA makes up approximately 2.7% of Jessup Wealth Management Inc’s portfolio, making the stock its 13th biggest position. Jessup Wealth Management Inc’s holdings in NVIDIA were worth $5,120,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in shares of NVIDIA during the 1st quarter valued at $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 NVIDIA during the 1st quarter worth $34,000. Finally, 25 LLC bought a new position in NVIDIA during the 1st quarter worth $46,000. Institutional investors and hedge funds own 64.79% of the company’s stock.
NVIDIA Trading Up 1.2 %
NASDAQ:NVDA opened at $457.98 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.13 trillion, a PE ratio of 110.62, a price-to-earnings-growth ratio of 3.55 and a beta of 1.76. The firm’s 50 day moving average is $448.64 and its 200 day moving average is $389.41. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $502.66.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were issued a $0.04 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.
Insider Buying and Selling
In related news, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction that occurred on Monday, August 28th. The shares were 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 approximately $482,490,310.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of the business’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 sale, the director now owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on NVDA. JPMorgan Chase & Co. raised their target price on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Raymond James raised their target price on NVIDIA from $500.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $440.00 to $560.00 and gave the stock a “hold” rating in a research report on Thursday, August 24th. Wells Fargo & Company raised their target price on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Finally, Wedbush lifted their price objective on NVIDIA from $490.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $558.95.
View Our Latest Stock Analysis on NVDA
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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