WealthBridge Capital Management LLC lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,747 shares of the computer hardware maker’s stock after purchasing an additional 804 shares during the quarter. NVIDIA accounts for about 1.7% of WealthBridge Capital Management LLC’s portfolio, making the stock its 12th largest position. WealthBridge Capital Management LLC’s holdings in NVIDIA were worth $5,933,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of NVIDIA in the fourth quarter valued at about $43,515,504,000. GAMMA Investing LLC grew its position in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp boosted its position in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Proficio Capital Partners LLC boosted its position in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock worth $3,864,026,000 after buying an additional 23,948,733 shares in the last quarter. 65.27% of the stock is owned by institutional investors.
NVIDIA Stock Down 0.6%
Shares of NVDA opened at $171.38 on Tuesday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.25. The company has a 50-day moving average price of $146.99 and a two-hundred day moving average price of $129.81. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.18 trillion, a price-to-earnings ratio of 55.28, a P/E/G ratio of 1.52 and a beta of 2.13.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.29%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on NVDA. Rosenblatt Securities raised their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Barclays raised their price objective on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $181.22.
Get Our Latest Research Report on NVIDIA
Insider Buying and Selling at NVIDIA
In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $172.52, for a total value of $12,939,000.00. Following the completion of the sale, the chief executive officer directly owned 74,348,225 shares in the company, valued at approximately $12,826,555,777. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 20,000 shares of NVIDIA stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.88, for a total transaction of $3,417,600.00. Following the completion of the sale, the chief financial officer directly owned 163,060 shares in the company, valued at approximately $27,863,692.80. This represents a 10.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock worth $734,906,003 over the last quarter. 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.
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