WASHINGTON TRUST Co lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,941 shares of the computer hardware maker’s stock after selling 705 shares during the period. WASHINGTON TRUST Co’s holdings in NVIDIA were worth $19,724,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Minot Wealth Management LLC lifted its stake in shares of NVIDIA by 13.7% in the 4th quarter. Minot Wealth Management LLC now owns 8,758 shares of the computer hardware maker’s stock worth $4,573,000 after purchasing an additional 1,054 shares during the period. Hartford Investment Management Co. increased its holdings in NVIDIA by 11.5% in the 4th quarter. Hartford Investment Management Co. now owns 73,359 shares of the computer hardware maker’s stock worth $38,308,000 after acquiring an additional 7,593 shares in the last quarter. Private Harbour Investment Management & Counsel LLC increased its holdings in NVIDIA by 13.6% in the 4th quarter. Private Harbour Investment Management & Counsel LLC now owns 4,157 shares of the computer hardware maker’s stock worth $2,171,000 after acquiring an additional 497 shares in the last quarter. Glaxis Capital Management LLC purchased a new stake in NVIDIA in the 4th quarter worth approximately $1,567,000. Finally, Pactiv General Employee Benefit Trust increased its holdings in NVIDIA by 40.6% in the 4th quarter. Pactiv General Employee Benefit Trust now owns 43,295 shares of the computer hardware maker’s stock worth $22,609,000 after acquiring an additional 12,495 shares in the last quarter. Hedge funds and other institutional investors own 65.70% of the company’s stock.
NASDAQ:NVDA opened at $593.47 on Tuesday. NVIDIA Co. has a twelve month low of $280.88 and a twelve month high of $648.57. The company has a market cap of $369.37 billion, a price-to-earnings ratio of 97.13, a price-to-earnings-growth ratio of 3.87 and a beta of 1.45. The stock has a fifty day simple moving average of $568.71 and a 200-day simple moving average of $545.05. The company has a current ratio of 3.92, a quick ratio of 3.52 and a debt-to-equity ratio of 0.39.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Wednesday, March 10th were issued a $0.16 dividend. The ex-dividend date was Tuesday, March 9th. This represents a $0.64 annualized dividend and a dividend yield of 0.11%. NVIDIA’s payout ratio is currently 13.94%.
NVDA has been the subject of several analyst reports. Mizuho increased their target price on shares of NVIDIA from $650.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, April 19th. Wells Fargo & Company increased their price objective on shares of NVIDIA from $625.00 to $715.00 and gave the company an “overweight” rating in a report on Monday, April 19th. Susquehanna increased their price objective on shares of NVIDIA from $625.00 to $700.00 and gave the company a “positive” rating in a report on Monday, February 22nd. Raymond James raised shares of NVIDIA from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $700.00 to $750.00 in a report on Wednesday, April 21st. Finally, Wedbush increased their price objective on shares of NVIDIA from $600.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $606.61.
In related news, Director Robert K. Burgess sold 14,500 shares of NVIDIA stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $627.95, for a total value of $9,105,275.00. Also, Director Persis Drell sold 1,200 shares of NVIDIA stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $587.53, for a total value of $705,036.00. Following the completion of the sale, the director now owns 16,844 shares of the company’s stock, valued at $9,896,355.32. The disclosure for this sale can be found here. Insiders sold 21,804 shares of company stock valued at $13,207,675 over the last 90 days. 4.47% of the stock is currently owned by corporate insiders.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, Graphics and Compute & Networking. 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 design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems.
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