Waypoint Wealth Partners Inc. purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 984 shares of the computer hardware maker’s stock, valued at approximately $268,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Rather & Kittrell Inc. acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $26,000. Emerson Wealth LLC bought a new stake in NVIDIA in the 1st quarter valued at about $27,000. Roble Belko & Company Inc grew its position in shares of NVIDIA by 550.0% during the 1st quarter. Roble Belko & Company Inc now owns 104 shares of the computer hardware maker’s stock worth $28,000 after purchasing an additional 88 shares in the last quarter. Advanced Research Investment Solutions LLC bought a new position in NVIDIA during the 4th quarter worth $29,000. Finally, Claremont Financial Group Inc. acquired a new position in NVIDIA in the fourth quarter valued at about $29,000. 55.19% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Stock Down 1.2 %
NVDA stock opened at $189.89 on Friday. NVIDIA Co. has a 1-year low of $140.55 and a 1-year high of $346.47. The stock has a market cap of $474.73 billion, a price-to-earnings ratio of 50.91, a price-to-earnings-growth ratio of 2.95 and a beta of 1.65. The company has a current ratio of 5.32, a quick ratio of 4.75 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $169.18 and its 200 day moving average is $205.64.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Thursday, June 9th were given a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $0.16 dividend on an annualized basis and a yield of 0.08%. NVIDIA’s payout ratio is 4.29%.
Insiders Place Their Bets
In other NVIDIA news, Director John Dabiri sold 2,200 shares of NVIDIA stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $185.59, for a total transaction of $408,298.00. Following the transaction, the director now directly owns 2,712 shares of the company’s stock, valued at $503,320.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Debora Shoquist sold 23,644 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $188.23, for a total transaction of $4,450,510.12. Following the completion of the sale, the executive vice president now directly owns 186,476 shares in the company, valued at approximately $35,100,377.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $185.59, for a total value of $408,298.00. Following the transaction, the director now owns 2,712 shares in the company, valued at $503,320.08. The disclosure for this sale can be found here. Insiders sold a total of 139,694 shares of company stock valued at $22,850,524 over the last quarter. 4.04% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Benchmark restated a “buy” rating and issued a $228.00 target price (down previously from $365.00) on shares of NVIDIA in a research report on Thursday, May 26th. KeyCorp dropped their target price on shares of NVIDIA from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NVIDIA from $190.00 to $175.00 in a research note on Wednesday, July 20th. Tigress Financial reaffirmed a “buy” rating and set a $310.00 price target (down from $410.00) on shares of NVIDIA in a research note on Friday, July 8th. They noted that the move was a valuation call. Finally, Cowen decreased their target price on shares of NVIDIA from $350.00 to $265.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. Seven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.24.
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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