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Wright Investors Service Inc. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.8% in the first quarter, Holdings Channel.com reports. The fund owned 109,069 shares of the computer hardware maker’s stock after buying an additional 1,965 shares during the quarter. NVIDIA comprises approximately 3.9% of Wright Investors Service Inc.’s holdings, making the stock its 4th largest position. Wright Investors Service Inc.’s holdings in NVIDIA were worth $11,821,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in NVDA. Norges Bank purchased a new stake in NVIDIA during the fourth quarter valued at about $43,515,504,000. GAMMA Investing LLC boosted its position in shares of NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp boosted its position in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the period. Proficio Capital Partners LLC boosted its position in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of NVIDIA in the fourth quarter worth about $2,987,733,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Insider Buying and Selling
In related news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,560,845 shares of company stock valued at $360,351,849. Insiders own 4.17% of the company’s stock.
NVIDIA Trading Down 0.8%
NASDAQ:NVDA opened at $142.83 on Thursday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $120.91 and its two-hundred day moving average is $126.34. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $153.13. The company has a market cap of $3.49 trillion, a PE ratio of 56.21, a P/E/G ratio of 1.76 and a beta of 2.12.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. On average, analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.
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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is 1.29%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. KeyCorp set a $190.00 price target on NVIDIA in a report on Wednesday, March 19th. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have issued 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 has an average rating of “Moderate Buy” and a consensus price target of $172.24.
Get Our Latest Analysis on NVIDIA
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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