StrongBox Wealth LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 47.2% during Q1, Holdings Channel reports. The fund held 4,383 shares of the hardware maker after selling 3,922 shares during the quarter. StrongBox Wealth LLC’s holdings in NVIDIA were worth $1,196,000 when it last filed with the Securities & Exchange Commission.
Other large investors have also recently changed their holdings in the company. BlackRock Inc. increased its stake in NVIDIA by 2.1% in the fourth quarter. BlackRock Inc. now owns 177,839,722 shares of the hardware maker valued at $52,304,441,000 after purchasing an additional 3,591,440 shares during the period. Geode Capital Management LLC increased its stake in NVIDIA by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 41,888,133 shares of the hardware maker worth $12,287,340,000 after purchasing an additional 1,505,461 shares during the period. Northern Trust Corp increased its stake in NVIDIA by 0.3% during the fourth quarter. Northern Trust Corp now owns 28,364,911 shares of the hardware maker worth $8,342,404,000 after buying an additional 88,332 shares during the period. Norges Bank purchased a new stake in NVIDIA during the fourth quarter for a value of approximately $6,279,217,000. Finally, Charles Schwab Investment Management Inc. increased its stake in NVIDIA by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,026,064 shares of the hardware maker worth $3,536,987,000 after purchasing an additional 304,829 shares during the period. 55.19% of the shares are currently held by institutional investors and hedge funds.
Several research companies have published reports on NVDA. Credit Suisse Group lowered its price target on NVIDIA shares to $205.00 in a Thursday, May 26 research note. Wells Fargo & Company cut its price target on NVIDIA stock from $370.00 to $250.00 and set an “overweight” rating for the company in a Friday, May 20 research note. Susquehanna Bancshares cut its price target on NVIDIA shares from $280.00 to $260.00 and set a “positive” rating for the company in a Thursday, May 26 research note. Morgan Stanley cut its price target on NVIDIA shares from $217.00 to $182.00 and set an “equal weight” rating on the stock in a Thursday, May 26 research report. Finally, Susquehanna reduced its price target on NVIDIA shares from $280.00 to $260.00 in a Thursday, May 26 research report. Seven research analysts gave the stock a hold rating, twenty-seven gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $270.97.
Separately, director Mark A. Stevens sold 113,850 shares of the company in a transaction on Monday, June 13. The stock was sold at an average price of $158.03, for a total value of $17,991,715.50. Following completion of the transaction, the administrator now directly owns 2,596,493 shares of the company, valued at $410,323,788.79. The sale was disclosed in a document filed with the SEC, accessible via the SEC’s website. Additionally, Executive Vice President Debora Shoquist sold 23,644 shares of the company in a trade on Wednesday, June 8. The stock was sold at an average price of $188.23, for a total value of $4,450,510.12. Following the completion of the transaction, the executive vice president now directly owns 186,476 shares of the company, valued at $35,100,377.48. The disclosure of this sale can be found here. Insiders sold 139,694 shares of the company valued at $22,850,524 in the past ninety days. Insiders hold 4.04% of the shares of the company.
NASDAQ NVDA shares opened at $168.69 on Tuesday. NVIDIA Co. has a 12-month low of $153.28 and a 12-month high of $346.47. The company has a current ratio of 5.32, a quick ratio of 4.75 and a debt ratio of 0.42. The company has a market capitalization of $421.73 billion, a price/earnings ratio of 45.23, a PEG ratio of 2.30 and a beta of 1.59. The company has a 50-day moving average of $179.55 and a two-hundred-day moving average of $228.89.
NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly results on Wednesday, May 25. The hardware maker reported earnings per share of $1.36 for the quarter, beating analysts’ consensus estimate of $1.29 by $0.07. NVIDIA had a net margin of 32.02% and a return on equity of 43.81%. The company posted revenue of $8.29 billion in the quarter, versus a consensus estimate of $8.09 billion. During the same period of the previous year, the company achieved EPS of $0.78. NVIDIA revenue increased 46.4% year over year. As a group, research analysts predict NVIDIA Co. will post earnings per share of 4.54 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Thursday, June 9 will receive a dividend of $0.04 per share. This represents a dividend of $0.16 on an annualized basis and a yield of 0.09%. The ex-dividend date is Wednesday, June 8. NVIDIA’s dividend payout ratio is currently 4.29%.
About NVIDIA (Get an assessment)
NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s Graphics segment offers GeForce GPUs for games and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.
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