Quaker Wealth Management LLC Sells 24,302 Shares of NVIDIA Corporation $NVDA

Quaker Wealth Management LLC lowered its position in NVIDIA Corporation (NASDAQ:NVDAFree Report) by 90.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,710 shares of the computer hardware maker’s stock after selling 24,302 shares during the period. Quaker Wealth Management LLC’s holdings in NVIDIA were worth $506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp grew its holdings in NVIDIA by 1.0% during the 2nd quarter. State Street Corp now owns 978,208,862 shares of the computer hardware maker’s stock valued at $154,556,803,000 after buying an additional 9,554,857 shares in the last quarter. Geode Capital Management LLC raised its position in shares of NVIDIA by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker’s stock valued at $91,150,170,000 after buying an additional 8,521,936 shares in the last quarter. Norges Bank bought a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $51,386,863,000. Legal & General Group Plc lifted its position in NVIDIA by 1.5% in the second quarter. Legal & General Group Plc now owns 178,593,475 shares of the computer hardware maker’s stock worth $28,215,983,000 after buying an additional 2,623,678 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of NVIDIA by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 155,668,775 shares of the computer hardware maker’s stock valued at $24,594,110,000 after acquiring an additional 4,209,423 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVDA. Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of NVIDIA in a report on Thursday, February 26th. JPMorgan Chase & Co. upped their target price on NVIDIA from $250.00 to $265.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of NVIDIA in a research note on Thursday, February 26th. Morgan Stanley set a $260.00 price objective on NVIDIA in a research report on Monday. Finally, Wedbush lifted their target price on NVIDIA from $230.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $273.41.

Check Out Our Latest Report on NVIDIA

NVIDIA Price Performance

NVDA opened at $180.05 on Wednesday. The business’s 50-day moving average is $186.23 and its two-hundred day moving average is $183.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.91 and a quick ratio of 3.24. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $212.19. The firm has a market capitalization of $4.38 trillion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 0.62 and a beta of 2.33.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The computer hardware maker reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The firm had revenue of $68.13 billion for the quarter, compared to analyst estimates of $65.56 billion. NVIDIA had a net margin of 55.60% and a return on equity of 97.37%. The business’s quarterly revenue was up 73.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. Research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Wednesday, March 11th. NVIDIA’s dividend payout ratio is currently 0.82%.

Key Headlines Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 27,640 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $175.72, for a total value of $4,856,900.80. Following the transaction, the chief financial officer directly owned 846,772 shares of the company’s stock, valued at approximately $148,794,775.84. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $180.04, for a total transaction of $36,008,000.00. Following the completion of the transaction, the executive vice president directly owned 3,618,547 shares in the company, valued at $651,483,201.88. This trade represents a 5.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,598,120 shares of company stock worth $289,278,314. Company insiders own 4.17% of the company’s stock.

About NVIDIA

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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