Morton Brown Family Wealth LLC increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,928 shares of the computer hardware maker’s stock after purchasing an additional 58 shares during the quarter. Morton Brown Family Wealth LLC’s holdings in NVIDIA were worth $621,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Kingstone Capital Partners Texas LLC lifted its holdings in shares of NVIDIA by 267,959.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock valued at $64,976,521,000 after purchasing an additional 382,231,120 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NVIDIA by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,794,926 shares of the computer hardware maker’s stock worth $22,412,434,000 after purchasing an additional 5,896,735 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of NVIDIA by 123.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock worth $20,374,921,000 after purchasing an additional 103,889,872 shares during the last quarter. Nuveen LLC acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $15,089,414,000. Finally, Amundi raised its position in shares of NVIDIA by 16.0% during the 1st quarter. Amundi now owns 135,770,043 shares of the computer hardware maker’s stock worth $13,826,199,000 after purchasing an additional 18,733,431 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.
NVIDIA Trading Down 2.1%
NASDAQ NVDA opened at $202.76 on Friday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $212.19. The company has a 50-day moving average of $181.35 and a 200-day moving average of $158.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60. The company has a market cap of $4.93 trillion, a P/E ratio of 57.77, a P/E/G ratio of 1.49 and a beta of 2.12.
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 dividend of $0.01 per share. 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 is presently 1.14%.
Insiders Place Their Bets
In other NVIDIA news, CFO Colette Kress sold 27,640 shares of the company’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $181.42, for a total transaction of $5,014,448.80. Following the completion of the sale, the chief financial officer directly owned 2,855,762 shares in the company, valued at $518,092,342.04. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 25,000 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $190.73, for a total transaction of $4,768,250.00. Following the sale, the chief executive officer directly owned 69,783,203 shares of the company’s stock, valued at approximately $13,309,750,308.19. This trade represents a 0.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,676,577 shares of company stock valued at $657,716,375. Insiders own 4.17% of the company’s stock.
Analysts Set New Price Targets
NVDA has been the subject of a number of analyst reports. BNP Paribas raised NVIDIA to a “hold” rating in a report on Friday, August 1st. Needham & Company LLC boosted their price target on NVIDIA from $200.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial boosted their target price on shares of NVIDIA from $210.00 to $228.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Bank of America boosted their target price on shares of NVIDIA from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Oppenheimer reissued an “outperform” rating and issued a $225.00 target price (up previously from $200.00) on shares of NVIDIA in a research note on Thursday, August 28th. Five investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Buy” and a consensus price target of $229.38.
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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