NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by New Millennium Group LLC

New Millennium Group LLC boosted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 140,443 shares of the computer hardware maker’s stock after buying an additional 2,279 shares during the quarter. NVIDIA makes up approximately 10.0% of New Millennium Group LLC’s holdings, making the stock its 2nd largest holding. New Millennium Group LLC’s holdings in NVIDIA were worth $15,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tacita Capital Inc acquired a new position in shares of NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the 4th quarter valued at about $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA during the 4th quarter valued at about $40,000. Copia Wealth Management acquired a new position in shares of NVIDIA in the fourth quarter valued at about $50,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of NVIDIA in the first quarter worth about $51,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert K. Burgess sold 50,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 transaction, the director now owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,393,863 shares of company stock valued at $483,709,832 in the last three months. 4.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, June 16th. Susquehanna restated a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Raymond James Financial raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. Finally, Benchmark restated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.78.

NVIDIA Stock Performance

NASDAQ NVDA opened at $154.31 on Thursday. The firm has a market cap of $3.77 trillion, a P/E ratio of 49.78, a P/E/G ratio of 1.31 and a beta of 2.12. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $156.96. The business’s 50-day moving average price is $128.75 and its 200 day moving average price is $126.78. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) 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 company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. On average, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid 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 (DPR) is 1.29%.

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.