OFI Invest Asset Management purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 204,405 shares of the computer hardware maker’s stock, valued at approximately $86,467,000. NVIDIA makes up 3.4% of OFI Invest Asset Management’s investment portfolio, making the stock its 3rd largest position.
Other institutional investors have also made changes to their positions in the company. Nordwand Advisors LLC bought a new position in shares of NVIDIA in the 1st quarter valued at approximately $28,000. Marquette Asset Management LLC bought a new position in shares of NVIDIA in the 2nd quarter valued at approximately $34,000. Quarry LP bought a new position in shares of NVIDIA in the 1st quarter valued at approximately $34,000. Compass Wealth Management LLC bought a new position in shares of NVIDIA in the 4th quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC bought a new position in shares of NVIDIA in the 2nd quarter valued at approximately $42,000. 64.79% of the stock is owned by institutional investors.
NVIDIA Trading Up 0.4 %
NASDAQ NVDA opened at $405.00 on Friday. The stock has a 50-day simple moving average of $448.04 and a 200 day simple moving average of $403.32. The company has a market capitalization of $1.00 trillion, a PE ratio of 97.83, a P/E/G ratio of 3.13 and a beta of 1.76. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. NVIDIA Co. has a 12 month low of $129.56 and a 12 month high of $502.66.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is 3.86%.
Analysts Set New Price Targets
A number of research firms have issued reports on NVDA. Evercore ISI raised their target price on NVIDIA to $600.00 in a report on Thursday, August 24th. Tigress Financial raised their target price on NVIDIA from $320.00 to $560.00 in a report on Friday, July 7th. Craig Hallum raised their target price on NVIDIA from $500.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Oppenheimer raised their target price on NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, August 24th. Finally, Susquehanna lifted their price objective on NVIDIA from $575.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have assigned 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.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $556.83.
View Our Latest Report on NVIDIA
Insider Buying and Selling at NVIDIA
In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $486.40, for a total value of $14,440,243.20. Following the completion of the transaction, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at $3,793,980,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $486.40, for a total value of $14,440,243.20. Following the completion of the transaction, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at $3,793,980,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 4,980 shares of the business’s 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 transaction, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at $230,106,456.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,232 shares of company stock valued at $67,606,089. Company insiders own 3.99% of the company’s stock.
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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