Spire Wealth Management lowered its holdings in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 183,176 shares of the computer hardware maker’s stock after selling 39,065 shares during the period. NVIDIA comprises 1.3% of Spire Wealth Management’s holdings, making the stock its 8th largest position. Spire Wealth Management’s holdings in NVIDIA were worth $49,970,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the business. BlackRock Inc. grew its position in shares of NVIDIA by 2.1% during the 4th quarter. BlackRock Inc. now owns 177,839,722 shares of the computer hardware maker’s stock valued at $52,304,441,000 after acquiring an additional 3,591,440 shares during the period. Geode Capital Management LLC increased its position in NVIDIA by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 41,888,133 shares of the computer hardware maker’s stock worth $12,287,340,000 after buying an additional 1,505,461 shares during the last quarter. Northern Trust Corp raised its stake in shares of NVIDIA by 0.3% in the fourth quarter. Northern Trust Corp now owns 28,364,911 shares of the computer hardware maker’s stock valued at $8,342,404,000 after buying an additional 88,332 shares during the period. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter worth $6,279,217,000. Finally, Charles Schwab Investment Management Inc. raised its stake in NVIDIA by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,026,064 shares of the computer hardware maker’s stock valued at $3,536,987,000 after acquiring an additional 304,829 shares during the period. Hedge funds and other institutional investors own 55.19% of the company’s stock.
Shares of NASDAQ NVDA opened at $159.82 on Wednesday. The firm’s fifty day moving average is $178.31 and its 200 day moving average is $228.41. NVIDIA Co. has a 52 week low of $153.28 and a 52 week high of $346.47. The company has a quick ratio of 4.75, a current ratio of 5.32 and a debt-to-equity ratio of 0.42. The company has a market cap of $399.55 billion, a price-to-earnings ratio of 42.85, a PEG ratio of 2.30 and a beta of 1.59.
NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings results on Wednesday, May 25th. The computer hardware maker reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.07. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.09 billion. NVIDIA had a net margin of 32.02% and a return on equity of 43.81%. The company’s revenue was up 46.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. Equities research analysts anticipate that NVIDIA Co. will post 4.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Thursday, June 9th will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, June 8th. This represents a $0.16 dividend on an annualized basis and a yield of 0.10%. NVIDIA’s dividend payout ratio is presently 4.29%.
In other news, EVP Debora Shoquist sold 23,644 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $188.23, for a total transaction of $4,450,510.12. Following the transaction, the executive vice president now directly owns 186,476 shares of the company’s stock, valued at $35,100,377.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 113,850 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $158.03, for a total value of $17,991,715.50. Following the transaction, the director now directly owns 2,596,493 shares in the company, valued at $410,323,788.79. The disclosure for this sale can be found here. Insiders have sold a total of 139,694 shares of company stock valued at $22,850,524 in the last ninety days. 4.04% of the stock is currently owned by corporate insiders.
Several research firms have recently weighed in on NVDA. Sanford C. Bernstein reduced their target price on shares of NVIDIA from $325.00 to $225.00 and set an “outperform” rating for the company in a research note on Monday, May 23rd. Atlantic Securities dropped their target price on NVIDIA to $205.00 in a research report on Thursday, May 26th. Wells Fargo & Company reduced their price target on NVIDIA from $370.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, May 20th. Piper Sandler cut their price objective on shares of NVIDIA from $350.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. Finally, Robert W. Baird decreased their target price on shares of NVIDIA from $225.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, May 27th. Seven investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $270.97.
NVIDIA Company Profile (Get Rating)
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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