State of Wisconsin Investment Board lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 616,350 shares of the computer hardware maker’s stock after selling 36,691 shares during the period. State of Wisconsin Investment Board’s holdings in NVIDIA were worth $110,672,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Group Wealth Management LLC purchased a new stake in shares of NVIDIA in the first quarter worth approximately $30,000. Truvestments Capital LLC purchased a new stake in shares of NVIDIA in the first quarter worth approximately $33,000. Creative Financial Designs Inc. ADV lifted its position in shares of NVIDIA by 181.2% in the first quarter. Creative Financial Designs Inc. ADV now owns 194 shares of the computer hardware maker’s stock worth $35,000 after purchasing an additional 125 shares in the last quarter. TD Capital Management LLC acquired a new position in NVIDIA in the fourth quarter worth approximately $27,000. Finally, Paragon Capital Management LLC acquired a new position in NVIDIA in the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 67.56% of the company’s stock.
A number of equities analysts recently commented on the company. TheStreet upgraded NVIDIA from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. BidaskClub upgraded NVIDIA from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. DZ Bank downgraded NVIDIA to a “sell” rating and set a $170.00 price objective on the stock. in a report on Friday, April 12th. Nomura assumed coverage on NVIDIA in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $147.00 price objective on the stock. Finally, Zacks Investment Research upgraded NVIDIA from a “strong sell” rating to a “hold” rating in a report on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $198.38.
In other news, CFO Colette Kress sold 14,092 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $183.33, for a total value of $2,583,486.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Debora Shoquist sold 5,823 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the completion of the sale, the executive vice president now owns 171,783 shares in the company, valued at approximately $31,779,855. The disclosure for this sale can be found here. Company insiders own 4.64% of the company’s stock.
NVDA stock traded down $3.98 during midday trading on Wednesday, hitting $146.77. 3,694,258 shares of the company traded hands, compared to its average volume of 14,457,457. NVIDIA Co. has a twelve month low of $124.46 and a twelve month high of $292.76. The company has a quick ratio of 7.78, a current ratio of 8.98 and a debt-to-equity ratio of 0.25. The company has a market cap of $88.61 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 3.70 and a beta of 2.03.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. NVIDIA’s quarterly revenue was down 30.8% on a year-over-year basis. During the same quarter last year, the company posted $2.05 earnings per share. As a group, equities analysts expect that NVIDIA Co. will post 4.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 31st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.44%. NVIDIA’s payout ratio is 10.54%.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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