PBMares Wealth Management LLC reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,240 shares of the computer hardware maker’s stock after selling 249 shares during the quarter. PBMares Wealth Management LLC’s holdings in NVIDIA were worth $1,776,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Pachira Investments Inc. boosted its position in NVIDIA by 1.0% during the second quarter. Pachira Investments Inc. now owns 6,450 shares of the computer hardware maker’s stock valued at $1,019,000 after acquiring an additional 63 shares during the last quarter. HFG Wealth Management LLC boosted its position in NVIDIA by 3.4% during the second quarter. HFG Wealth Management LLC now owns 2,075 shares of the computer hardware maker’s stock valued at $328,000 after acquiring an additional 68 shares during the last quarter. Hidden Cove Wealth Management LLC boosted its position in shares of NVIDIA by 0.3% during the 2nd quarter. Hidden Cove Wealth Management LLC now owns 23,778 shares of the computer hardware maker’s stock worth $3,757,000 after purchasing an additional 69 shares in the last quarter. Summit Financial Strategies Inc. boosted its position in shares of NVIDIA by 0.6% during the 2nd quarter. Summit Financial Strategies Inc. now owns 11,637 shares of the computer hardware maker’s stock worth $1,839,000 after purchasing an additional 69 shares in the last quarter. Finally, Burkett Financial Services LLC boosted its position in shares of NVIDIA by 1.3% during the 2nd quarter. Burkett Financial Services LLC now owns 5,450 shares of the computer hardware maker’s stock worth $861,000 after purchasing an additional 70 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.
NVIDIA Trading Down 0.1%
NASDAQ:NVDA opened at $179.83 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.60 and a current ratio of 4.21. The firm has a market cap of $4.37 trillion, a price-to-earnings ratio of 51.23, a price-to-earnings-growth ratio of 1.30 and a beta of 2.12. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $195.62. The firm has a 50-day moving average price of $179.37 and a two-hundred day moving average price of $151.96.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s dividend payout ratio (DPR) is 1.14%.
Insider Buying and Selling
In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $181.01, for a total value of $13,575,750.00. Following the completion of the sale, the chief executive officer owned 70,333,203 shares in the company, valued at approximately $12,731,013,075.03. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 3,828,937 shares of company stock valued at $680,708,026. Company insiders own 4.17% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on NVDA. HSBC set a $320.00 price objective on shares of NVIDIA and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird increased their price objective on shares of NVIDIA from $195.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, August 25th. Bank of America increased their price objective on shares of NVIDIA from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Wall Street Zen cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, DA Davidson raised shares of NVIDIA from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $195.00 to $210.00 in a research report on Thursday, September 11th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.23.
View Our Latest Report on NVIDIA
NVIDIA Company Profile
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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