Ulland Investment Advisors LLC lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 27.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,887 shares of the computer hardware maker’s stock after selling 29,080 shares during the period. NVIDIA comprises about 6.9% of Ulland Investment Advisors LLC’s holdings, making the stock its largest holding. Ulland Investment Advisors LLC’s holdings in NVIDIA were worth $8,225,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Investment Partners Asset Management Inc. lifted its stake in NVIDIA by 11.1% during the first quarter. Investment Partners Asset Management Inc. now owns 25,362 shares of the computer hardware maker’s stock worth $2,749,000 after purchasing an additional 2,529 shares during the last quarter. Transform Wealth LLC lifted its stake in NVIDIA by 0.9% during the first quarter. Transform Wealth LLC now owns 293,259 shares of the computer hardware maker’s stock worth $31,786,000 after purchasing an additional 2,710 shares during the last quarter. Ironwood Wealth Management LLC. lifted its stake in NVIDIA by 18.7% during the first quarter. Ironwood Wealth Management LLC. now owns 7,695 shares of the computer hardware maker’s stock worth $834,000 after purchasing an additional 1,212 shares during the last quarter. Focus Financial Network Inc. lifted its stake in NVIDIA by 3.8% during the first quarter. Focus Financial Network Inc. now owns 1,897,135 shares of the computer hardware maker’s stock worth $205,630,000 after purchasing an additional 69,330 shares during the last quarter. Finally, Donaldson Capital Management LLC lifted its stake in NVIDIA by 7.7% during the first quarter. Donaldson Capital Management LLC now owns 74,065 shares of the computer hardware maker’s stock worth $8,027,000 after purchasing an additional 5,310 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.
NVIDIA Stock Performance
NVIDIA stock opened at $154.31 on Thursday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.77 trillion, a P/E ratio of 49.78, a PEG ratio of 1.31 and a beta of 2.12. The stock’s 50 day moving average is $128.75 and its 200 day moving average is $126.78. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $154.45.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.
Insider Buying and Selling
In other NVIDIA news, CFO Colette Kress sold 20,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $144.21, for a total transaction of $2,884,200.00. Following the sale, the chief financial officer now directly owns 173,060 shares in the company, valued at approximately $24,956,982.60. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,393,863 shares of company stock worth $483,709,832 in the last 90 days. Insiders own 4.17% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on NVDA. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Citigroup restated a “buy” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. Loop Capital increased their target price on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. Barclays increased their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Finally, HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.78.
Read Our Latest Research Report on NVDA
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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