Stiles Financial Services Inc reduced its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,756 shares of the computer hardware maker’s stock after selling 1,436 shares during the period. NVIDIA accounts for 3.9% of Stiles Financial Services Inc’s holdings, making the stock its 2nd biggest holding. Stiles Financial Services Inc’s holdings in NVIDIA were worth $7,934,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in shares of NVIDIA during the first quarter valued at about $28,000. Nordwand Advisors LLC bought a new stake in shares of NVIDIA in the first quarter valued at approximately $28,000. Quarry LP bought a new stake in shares of NVIDIA in the first quarter valued at approximately $34,000. Financial Connections Group Inc. raised 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 purchasing an additional 212 shares during the period. Finally, Chelsea Counsel Co. bought a new stake in NVIDIA during the 4th quarter worth approximately $37,000. 64.79% of the stock is owned by institutional investors.
NVIDIA Stock Performance
Shares of NVIDIA stock opened at $468.06 on Thursday. The firm has a market capitalization of $1.16 trillion, a P/E ratio of 113.06, a P/E/G ratio of 3.52 and a beta of 1.76. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $502.66. 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 firm’s 50 day moving average is $449.15 and its two-hundred day moving average is $389.96.
NVIDIA Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio is currently 3.86%.
Analysts Set New Price Targets
NVDA has been the subject of a number of research reports. Wedbush upped their price objective on shares of NVIDIA from $490.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. The Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 2nd. Barclays lifted their price target on shares of NVIDIA from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. HSBC lifted their target price on shares of NVIDIA from $600.00 to $780.00 and gave the stock a “buy” rating in a report on Monday, August 21st. Finally, BNP Paribas raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 target price for the company in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $561.45.
Check Out Our Latest Stock Analysis on NVIDIA
Insider Activity
In related news, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction dated 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 sale, the chief financial officer now owns 499,428 shares in the company, valued at approximately $230,106,456.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the sale, the chief executive officer now owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the completion of the sale, the chief financial officer now owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Insiders sold a total of 145,232 shares of company stock worth $67,606,089 over the last 90 days. 3.99% of the stock is currently owned by corporate insiders.
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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