IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 65.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,131 shares of the computer hardware maker’s stock after selling 2,189 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in NVIDIA were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Sanctuary Wealth Management L.L.C. purchased a new position in shares of NVIDIA during the 2nd quarter valued at $234,000. Prosperity Consulting Group LLC grew its position in shares of NVIDIA by 5.0% during the 2nd quarter. Prosperity Consulting Group LLC now owns 1,733 shares of the computer hardware maker’s stock valued at $733,000 after purchasing an additional 83 shares in the last quarter. Roman Butler Fullerton & Co. grew its position in shares of NVIDIA by 2.0% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 10,843 shares of the computer hardware maker’s stock valued at $5,105,000 after purchasing an additional 211 shares in the last quarter. O ROURKE & COMPANY Inc purchased a new position in shares of NVIDIA during the 2nd quarter valued at $223,000. Finally, DBK Financial Counsel LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at $265,000. 64.79% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Price Performance
Shares of NVDA opened at $454.61 on Monday. The stock has a market cap of $1.12 trillion, a PE ratio of 109.81, a price-to-earnings-growth ratio of 3.52 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. NVIDIA Co. has a fifty-two week low of $112.04 and a fifty-two week high of $502.66. The firm’s 50-day simple moving average is $449.79 and its two-hundred day simple moving average is $393.58.
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 issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s payout ratio is 3.86%.
Insider Activity
In other news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction that occurred 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 in the company, valued at $482,490,310.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Mark A. Stevens sold 21,500 shares of the stock in a transaction that occurred 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 in the company, valued at $482,490,310.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction that occurred 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 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. Insiders have 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 insiders.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on NVDA. Westpark Capital upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a research report on Thursday, August 24th. Tigress Financial lifted their price objective on shares of NVIDIA from $320.00 to $560.00 in a report on Friday, July 7th. BMO Capital Markets lifted their price objective on shares of NVIDIA from $450.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 21st. Citigroup lifted their price objective on shares of NVIDIA from $520.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Piper Sandler lifted their price objective on shares of NVIDIA from $500.00 to $620.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $561.45.
View Our Latest Research Report on NVIDIA
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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