NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Bennett Associates Wealth Management

Bennett Associates Wealth Management raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,547 shares of the computer hardware maker’s stock after acquiring an additional 104 shares during the quarter. Bennett Associates Wealth Management’s holdings in NVIDIA were worth $276,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tacita Capital Inc purchased a new stake in NVIDIA during the 4th quarter worth about $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the 4th quarter valued at about $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the 4th quarter valued at about $40,000. Copia Wealth Management acquired a new position in shares of NVIDIA in the 4th quarter valued at about $50,000. Finally, LSV Asset Management acquired a new position in shares of NVIDIA in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 1.5%

Shares of NASDAQ NVDA opened at $145.00 on Friday. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $153.13. The company has a market cap of $3.54 trillion, a price-to-earnings ratio of 57.06, a P/E/G ratio of 1.76 and a beta of 2.12. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $121.86 and a 200-day simple moving average of $126.41.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The company’s revenue was up 69.2% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared 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 presently 1.29%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research report on Wednesday, March 19th. Barclays reaffirmed an “overweight” rating and issued a $170.00 target price (up from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Morgan Stanley restated an “overweight” rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, DA Davidson upped their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $172.24.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director now directly owns 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,560,845 shares of company stock valued at $360,351,849 in the last three months. Corporate insiders own 4.17% of the company’s stock.

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.