WT Asset Management Ltd bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 215,000 shares of the computer hardware maker’s stock, valued at approximately $90,949,000. NVIDIA accounts for about 27.8% of WT Asset Management Ltd’s investment portfolio, making the stock its largest position.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in NVIDIA in the first quarter valued at $28,000. Nordwand Advisors LLC purchased a new position in NVIDIA in the first quarter valued at $28,000. MRP Capital Investments LLC purchased a new position in NVIDIA in the second quarter valued at $42,000. Graham Capital Wealth Management LLC purchased a new position in NVIDIA in the first quarter valued at $311,102,000. Finally, Quarry LP purchased a new position in NVIDIA in the first quarter valued at $34,000. 64.79% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Price Performance
NVIDIA stock opened at $454.61 on Monday. The firm 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. NVIDIA Co. has a 52-week low of $112.04 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 company’s 50 day moving average is $449.79 and its two-hundred day moving average is $393.58.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders 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 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio is presently 3.86%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on NVDA shares. KeyCorp lifted their price objective on shares of NVIDIA from $670.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, October 3rd. Robert W. Baird boosted their target price on shares of NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. Westpark Capital raised shares of NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research note on Thursday, August 24th. Benchmark boosted their target price on shares of NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $561.45.
View Our Latest Stock Analysis on NVIDIA
Insider Buying and Selling at NVIDIA
In other NVIDIA news, CFO Colette Kress sold 4,980 shares of the 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 sale, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NVIDIA news, CFO Colette Kress sold 4,980 shares of the 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 sale, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 completion of the sale, the chief executive officer now directly owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,232 shares of company stock valued at $67,606,089. Insiders own 3.99% of the company’s stock.
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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