Quintet Private Bank Europe S.A. reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 2.6% in the 1st quarter, Holdings Channel reports. The fund owned 1,575,201 shares of the computer hardware maker’s stock after selling 42,333 shares during the period. NVIDIA makes up 10.1% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 2nd largest position. Quintet Private Bank Europe S.A.’s holdings in NVIDIA were worth $170,720,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Hickory Point Bank & Trust purchased a new stake in NVIDIA during the fourth quarter worth $2,272,000. BTC Capital Management Inc. boosted its stake in shares of NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock worth $35,785,000 after acquiring an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP grew its position in shares of NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after acquiring an additional 9,944 shares during the period. Waddell & Associates LLC increased its stake in shares of NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after purchasing an additional 297 shares in the last quarter. Finally, Strategy Asset Managers LLC raised its holdings in NVIDIA by 0.8% in the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock worth $7,024,000 after purchasing an additional 405 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have commented on NVDA shares. Summit Insights raised NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $160.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.78.
Insider Transactions at NVIDIA
In related news, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director now owns 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director now directly owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,792,267 shares of company stock valued at $544,823,117. 4.17% of the stock is currently owned by company insiders.
NVIDIA Stock Up 1.8%
Shares of NVDA opened at $157.75 on Friday. The company’s 50-day simple moving average is $130.96 and its 200-day simple moving average is $127.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $158.71. The stock has a market capitalization of $3.85 trillion, a PE ratio of 50.89, a P/E/G ratio of 1.37 and a beta of 2.12.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its 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%. NVIDIA’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. Analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.
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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