Zhang Financial LLC increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 34.9% during the first quarter, HoldingsChannel reports. The fund owned 158,295 shares of the computer hardware maker’s stock after buying an additional 40,965 shares during the period. NVIDIA comprises about 0.9% of Zhang Financial LLC’s investment portfolio, making the stock its 25th largest position. Zhang Financial LLC’s holdings in NVIDIA were worth $17,156,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in NVDA. Tacita Capital Inc bought a new position in shares of NVIDIA during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA during the fourth quarter worth $40,000. Copia Wealth Management bought a new position in NVIDIA in the fourth quarter valued at $50,000. Finally, Bruce G. Allen Investments LLC increased its stake in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after buying an additional 327 shares during the last quarter. 65.27% of the stock is owned by institutional investors.
NVIDIA Stock Performance
Shares of NASDAQ NVDA opened at $154.31 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market cap of $3.77 trillion, a price-to-earnings ratio of 49.78, a P/E/G ratio of 1.31 and a beta of 2.12. The stock’s fifty day moving average price is $128.75 and its two-hundred day moving average price is $126.78. NVIDIA Corporation has a one year low of $86.62 and a one year high of $154.45.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.29%.
Insiders Place Their Bets
In related news, Director Robert K. Burgess sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares in the company, valued at approximately $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now directly owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,393,863 shares of company stock worth $483,709,832 in the last quarter. Corporate insiders own 4.17% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Citigroup restated a “buy” rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Mizuho upped their price objective on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. Finally, DA Davidson increased their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.78.
Get Our Latest Report on NVIDIA
NVIDIA Profile
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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