Silver Lake Advisory LLC cut its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 10.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,704 shares of the computer hardware maker’s stock after selling 200 shares during the period. Silver Lake Advisory LLC’s holdings in NVIDIA were worth $721,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new stake in NVIDIA in the first quarter valued at $28,000. Nordwand Advisors LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at about $28,000. Quarry LP purchased a new stake in shares of NVIDIA in the first quarter worth about $34,000. Chelsea Counsel Co. acquired a new stake in NVIDIA during the fourth quarter worth about $37,000. Finally, Compass Wealth Management LLC purchased a new position in NVIDIA during the fourth quarter valued at approximately $39,000. 64.79% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at NVIDIA
In other news, CFO Colette Kress sold 4,980 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 499,428 shares in the company, valued at approximately $230,106,456.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at $3,678,148,943.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 4,980 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 499,428 shares in the company, valued at $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 three months. Insiders own 3.99% of the company’s stock.
NVIDIA Stock Performance
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 101.5% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 9.54 EPS for the current year.
NVIDIA Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.
Wall Street Analysts Forecast Growth
Several research firms have commented on NVDA. Wedbush upped 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. Barclays raised 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. Wells Fargo & Company upped their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Stifel Nicolaus upgraded NVIDIA from a “hold” rating to a “buy” rating and raised their target price for the company from $440.00 to $600.00 in a research report on Thursday, August 24th. Finally, Tigress Financial upped their price target on NVIDIA from $320.00 to $560.00 in a report on Friday, July 7th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $561.45.
Read Our Latest Stock Analysis on NVDA
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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