Future Financial Wealth Managment LLC lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,172 shares of the computer hardware maker’s stock after purchasing an additional 177 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in NVIDIA were worth $659,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the stock. 111 Capital raised its stake in shares of NVIDIA by 0.6% during the second quarter. 111 Capital now owns 121,445 shares of the computer hardware maker’s stock worth $19,187,000 after purchasing an additional 747 shares during the last quarter. Impact Investors Inc raised its stake in shares of NVIDIA by 11.0% during the second quarter. Impact Investors Inc now owns 13,999 shares of the computer hardware maker’s stock worth $2,212,000 after purchasing an additional 1,384 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of NVIDIA during the second quarter worth approximately $145,000. QRG Capital Management Inc. raised its stake in shares of NVIDIA by 6.7% during the second quarter. QRG Capital Management Inc. now owns 4,529,118 shares of the computer hardware maker’s stock worth $715,555,000 after purchasing an additional 285,426 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. raised its stake in shares of NVIDIA by 1.3% during the second quarter. ZWJ Investment Counsel Inc. now owns 610,611 shares of the computer hardware maker’s stock worth $96,470,000 after purchasing an additional 7,894 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.
NVIDIA Stock Down 0.8%
NVIDIA stock opened at $181.16 on Wednesday. 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 capitalization of $4.40 trillion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth ratio of 1.32 and a beta of 2.12. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $195.62. The stock’s fifty day moving average is $179.37 and its two-hundred day moving average is $154.43.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Thursday, September 11th. NVIDIA’s dividend payout ratio (DPR) is 1.14%.
Insider Transactions at NVIDIA
In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.16, for a total value of $13,362,000.00. Following the transaction, the chief executive officer directly owned 73,523,225 shares in the company, valued at $13,098,897,766. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $176.21, for a total value of $44,052,500.00. Following the sale, the director owned 7,183,280 shares in the company, valued at approximately $1,265,765,768.80. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,753,937 shares of company stock worth $669,548,776 in the last three months. 4.17% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Benchmark increased their price objective on NVIDIA from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Robert W. Baird increased their price objective on NVIDIA from $195.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, August 25th. Citigroup reiterated a “buy” rating and issued a $210.00 price objective (up previously from $200.00) on shares of NVIDIA in a research report on Tuesday, September 30th. Wall Street Zen upgraded NVIDIA from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Daiwa Capital Markets increased their price objective on NVIDIA from $165.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Five research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Buy” and an average price target of $222.23.
Read Our Latest Analysis on NVIDIA
NVIDIA 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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