Marion Wealth Management lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 13.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,182 shares of the computer hardware maker’s stock after selling 503 shares during the quarter. Marion Wealth Management’s holdings in NVIDIA were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in shares of NVIDIA during the 1st quarter worth $28,000. Nordwand Advisors LLC acquired a new position in NVIDIA in the first quarter valued at $28,000. Quarry LP acquired a new position in NVIDIA in the first quarter valued at $34,000. Chelsea Counsel Co. acquired a new stake in NVIDIA in the 4th quarter worth about $37,000. Finally, Compass Wealth Management LLC purchased a new stake in NVIDIA in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 64.79% of the company’s stock.
Wall Street Analysts Forecast Growth
NVDA has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of NVIDIA from $440.00 to $560.00 and gave the company a “hold” rating in a report on Thursday, August 24th. Benchmark boosted their price objective on shares of NVIDIA from $475.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. JPMorgan Chase & Co. increased 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, Mizuho boosted their price target on NVIDIA from $530.00 to $590.00 and gave the company a “buy” 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $561.45.
NVIDIA Stock Performance
NVIDIA stock opened at $454.61 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. NVIDIA Co. has a 12 month low of $112.04 and a 12 month high of $502.66. The company has a fifty day moving average price of $449.79 and a two-hundred day moving average price of $391.82. The company has a market cap of $1.12 trillion, a PE ratio of 109.81, a P/E/G ratio of 3.52 and a beta of 1.76.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue for the quarter was up 101.5% compared to the same quarter last year. Research analysts expect that NVIDIA Co. will post 9.54 earnings per share for the current year.
NVIDIA Dividend Announcement
The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 3.86%.
Insider Buying and Selling
In other news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at $3,678,148,943.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the transaction, the director now owns 1,030,786 shares in the company, 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 firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total value of $13,999,376.40. Following the transaction, the chief executive officer now directly owns 7,800,125 shares in the company, valued at $3,678,148,943.75. The disclosure for this sale can be found here. Insiders sold a total of 145,232 shares of company stock worth $67,606,089 in the last three months. 3.99% of the stock is owned by insiders.
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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