Pekin Hardy Strauss Inc. Sells 347 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pekin Hardy Strauss Inc. lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 23.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,108 shares of the computer hardware maker’s stock after selling 347 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in NVIDIA were worth $482,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. United Bank grew its holdings in shares of NVIDIA by 28.9% during the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after buying an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of NVIDIA by 6.8% during the first 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 buying an additional 249,045 shares in the last quarter. MAS Advisors LLC grew its holdings in shares of NVIDIA by 42.1% during the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after buying an additional 583 shares in the last quarter. Navis Wealth Advisors LLC grew its holdings in shares of NVIDIA by 205.3% during the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after buying an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC bought a new position in shares of NVIDIA during the first quarter worth about $929,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

Insider Activity

In other news, Director John Dabiri sold 218 shares of NVIDIA stock in a transaction on Friday, November 24th. The stock was sold at an average price of $484.99, for a total value of $105,727.82. Following the transaction, the director now owns 2,183 shares in the company, valued at approximately $1,058,733.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John Dabiri sold 218 shares of NVIDIA stock in a transaction on Friday, November 24th. The stock was sold at an average price of $484.99, for a total value of $105,727.82. Following the transaction, the director now owns 2,183 shares in the company, valued at approximately $1,058,733.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dawn E. Hudson sold 1,000 shares of NVIDIA stock in a transaction on Friday, December 15th. The shares were sold at an average price of $492.52, for a total value of $492,520.00. Following the completion of the transaction, the director now owns 70,500 shares in the company, valued at approximately $34,722,660. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,216 shares of company stock worth $79,810,950. Insiders own 3.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Raymond James raised their price target on NVIDIA from $600.00 to $700.00 and gave the company a “strong-buy” rating in a research note on Friday, January 19th. Bank of America raised their price target on NVIDIA from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Wells Fargo & Company raised their price target on NVIDIA from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, November 22nd. Wedbush restated an “outperform” rating and issued a $600.00 price target on shares of NVIDIA in a research note on Friday, November 17th. Finally, Morgan Stanley raised their price target on NVIDIA from $603.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $616.35.

Check Out Our Latest Research Report on NVIDIA

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $721.33 on Monday. The stock has a market capitalization of $1.78 trillion, a PE ratio of 95.16, a P/E/G ratio of 2.89 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.59 and a quick ratio of 3.06. The business has a fifty day moving average price of $545.55 and a two-hundred day moving average price of $485.68. NVIDIA Co. has a fifty-two week low of $204.21 and a fifty-two week high of $721.85.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings results on Tuesday, November 21st. The computer hardware maker reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.99. NVIDIA had a return on equity of 72.28% and a net margin of 42.10%. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $16.19 billion. During the same quarter last year, the company posted $0.34 EPS. The company’s revenue for the quarter was up 205.5% compared to the same quarter last year. As a group, equities analysts predict that NVIDIA Co. will post 11.09 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Wednesday, December 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s payout ratio is 2.11%.

About NVIDIA

(Free Report)

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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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