NVIDIA Co. (NASDAQ:NVDA) Position Cut by Global Retirement Partners LLC
Global Retirement Partners LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,829 shares of the computer hardware maker’s stock after selling 73 shares during the quarter. Global Retirement Partners LLC’s holdings in NVIDIA were worth $695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accurate Investment Solutions Inc. boosted its stake in NVIDIA by 111.1% during the 1st quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. PrairieView Partners LLC acquired a new stake in shares of NVIDIA during the 1st quarter valued at $26,000. Ellevest Inc. lifted its holdings in shares of NVIDIA by 256.7% in the second quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 77 shares in the last quarter. Capital Wealth Alliance LLC purchased a new stake in shares of NVIDIA in the fourth quarter valued at $30,000. Finally, Archer Investment Corp purchased a new stake in shares of NVIDIA in the fourth quarter valued at $29,000. 68.80% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on NVDA. Rosenblatt Securities increased their target price on NVIDIA from $400.00 to $500.00 and gave the company a “buy” rating in a report on Friday. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, April 22nd. Morgan Stanley downgraded shares of NVIDIA from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $362.00 to $380.00 in a research report on Tuesday, June 16th. BofA Securities increased their target price on shares of NVIDIA from $420.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, BidaskClub raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 3rd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $363.24.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.44. NVIDIA had a net margin of 28.17% and a return on equity of 28.59%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business earned $0.88 EPS. NVIDIA’s quarterly revenue was up 38.7% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 6.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.16%. NVIDIA’s payout ratio is presently 13.94%.
In other news, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $349.08, for a total transaction of $17,454,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 18,166 shares of the stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $372.21, for a total transaction of $6,761,566.86. Following the completion of the transaction, the director now directly owns 161,257 shares of the company’s stock, valued at approximately $60,021,467.97. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 53 shares of company stock worth $15,322 and have sold 250,738 shares worth $93,670,532. Corporate insiders own 4.47% of the company’s stock.
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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