Single Point Partners LLC trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 46.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,560 shares of the computer hardware maker’s stock after selling 2,185 shares during the period. Single Point Partners LLC’s holdings in NVIDIA were worth $277,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tacita Capital Inc bought a new position in shares of NVIDIA during the fourth quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the fourth quarter worth about $40,000. Copia Wealth Management bought a new position in NVIDIA in the fourth quarter worth about $50,000. Finally, LSV Asset Management bought a new position in NVIDIA in the fourth quarter worth about $54,000. 65.27% of the stock is owned by institutional investors.
Analyst Ratings Changes
NVDA has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, June 16th. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Mizuho raised their target price on shares of NVIDIA from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, May 29th. Finally, TD Cowen raised their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.05.
Insider Activity
In other news, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director now directly owns 9,214,697 shares in the company, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the sale, the director now owns 201,044 shares in the company, valued at $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,469,685 shares of company stock worth $349,669,962 in the last three months. Company insiders own 4.17% of the company’s stock.
NVIDIA Trading Down 1.1%
Shares of NVIDIA stock opened at $143.83 on Friday. The company’s fifty day simple moving average is $126.37 and its 200-day simple moving average is $126.56. The stock has a market capitalization of $3.51 trillion, a PE ratio of 46.40, a P/E/G ratio of 1.27 and a beta of 2.12. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $153.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.29%.
About NVIDIA
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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