Connective Portfolio Management LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 18.7% in the fourth quarter, HoldingsChannel reports. The firm owned 5,040 shares of the computer hardware maker’s stock after selling 1,160 shares during the period. NVIDIA makes up approximately 5.0% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 6th largest position. Connective Portfolio Management LLC’s holdings in NVIDIA were worth $2,496,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NVDA. United Bank lifted its stake in shares of NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after purchasing an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NVIDIA by 6.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after purchasing an additional 249,045 shares during the last quarter. MAS Advisors LLC lifted its stake in shares of NVIDIA by 42.1% during the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after purchasing an additional 583 shares during the last quarter. Navis Wealth Advisors LLC lifted its stake in shares of NVIDIA by 205.3% during the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after purchasing an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC purchased a new stake in shares of NVIDIA during the 1st quarter worth $929,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
NVDA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. DA Davidson upped their target price on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,100.00 target price on shares of NVIDIA in a research report on Tuesday, February 20th. Tigress Financial upped their target price on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, HSBC upped their target price on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $908.68.
Read Our Latest Report on NVDA
NVIDIA Stock Down 2.5 %
NVIDIA stock opened at $902.50 on Thursday. The stock has a market capitalization of $2.26 trillion, a PE ratio of 75.59, a price-to-earnings-growth ratio of 1.33 and a beta of 1.73. NVIDIA Co. has a 12 month low of $258.50 and a 12 month high of $974.00. The business has a 50 day simple moving average of $758.96 and a 200-day simple moving average of $569.38. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue was up 265.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 22.45 EPS for the current fiscal year.
NVIDIA Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.
Insider Transactions at NVIDIA
In other news, EVP Debora Shoquist sold 5,676 shares of NVIDIA stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $500.00, for a total value of $2,838,000.00. Following the sale, the executive vice president now directly owns 48,360 shares of the company’s stock, valued at $24,180,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 35,648 shares of NVIDIA stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $542.93, for a total value of $19,354,368.64. Following the sale, the director now directly owns 1,189,083 shares of the company’s stock, valued at $645,588,833.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Debora Shoquist sold 5,676 shares of NVIDIA stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $500.00, for a total value of $2,838,000.00. Following the completion of the sale, the executive vice president now directly owns 48,360 shares in the company, valued at $24,180,000. The disclosure for this sale can be found here. Insiders have sold 105,352 shares of company stock valued at $64,853,077 over the last ninety days. Insiders own 3.99% of the company’s stock.
NVIDIA Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
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