Highland Private Wealth Management purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the 1st quarter, HoldingsChannel reports. The fund purchased 1,348 shares of the computer hardware maker’s stock, valued at approximately $242,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Group Wealth Management LLC bought a new stake in shares of NVIDIA in the first quarter worth about $30,000. Truvestments Capital LLC bought a new position in shares of NVIDIA during the first quarter worth about $33,000. Creative Financial Designs Inc. ADV grew its holdings in shares of NVIDIA by 181.2% during the first quarter. Creative Financial Designs Inc. ADV now owns 194 shares of the computer hardware maker’s stock worth $35,000 after buying an additional 125 shares in the last quarter. TD Capital Management LLC bought a new position in shares of NVIDIA during the fourth quarter worth about $27,000. Finally, Paragon Capital Management LLC bought a new position in shares of NVIDIA during the first quarter worth about $36,000. 70.03% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Colette Kress sold 14,092 shares of NVIDIA stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $183.33, for a total transaction of $2,583,486.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Debora Shoquist sold 5,823 shares of NVIDIA stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $185.00, for a total value of $1,077,255.00. Following the sale, the executive vice president now directly owns 171,783 shares of the company’s stock, valued at $31,779,855. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,029 shares of company stock valued at $3,678,385. 4.64% of the stock is currently owned by insiders.
NASDAQ:NVDA opened at $156.53 on Monday. The company has a market cap of $95.25 billion, a P/E ratio of 25.79, a PEG ratio of 3.84 and a beta of 1.85. The company has a quick ratio of 6.76, a current ratio of 7.94 and a debt-to-equity ratio of 0.21. NVIDIA Co. has a 1-year low of $124.46 and a 1-year high of $292.76.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.20 billion. NVIDIA had a return on equity of 31.69% and a net margin of 30.68%. The firm’s revenue for the quarter was down 30.8% compared to the same quarter last year. During the same period last year, the firm posted $2.05 EPS. As a group, equities research analysts forecast that NVIDIA Co. will post 4.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 31st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.64 annualized dividend and a yield of 0.41%. NVIDIA’s payout ratio is currently 10.54%.
A number of research analysts recently issued reports on the company. BidaskClub upgraded NVIDIA from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Nomura initiated coverage on NVIDIA in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $147.00 price target for the company. Stifel Nicolaus reduced their price target on NVIDIA from $150.00 to $145.00 and set a “hold” rating for the company in a research report on Tuesday, May 14th. UBS Group reduced their price target on NVIDIA from $210.00 to $195.00 and set a “buy” rating for the company in a research report on Friday. Finally, Wells Fargo & Co increased their price target on NVIDIA from $170.00 to $190.00 and gave the company a “positive” rating in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $198.93.
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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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