Flagship Harbor Advisors LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,671 shares of the computer hardware maker’s stock after buying an additional 707 shares during the period. Flagship Harbor Advisors LLC’s holdings in NVIDIA were worth $2,549,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Accurate Investment Solutions Inc. grew its position in shares of NVIDIA by 111.1% during the 1st quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. PrairieView Partners LLC bought a new position in NVIDIA in the 1st quarter worth about $26,000. Howard Wealth Management LLC bought a new position in NVIDIA in the 4th quarter worth about $28,000. Stonebridge Financial Planning Group LLC bought a new position in NVIDIA in the 4th quarter worth about $28,000. Finally, Archer Investment Corp bought a new position in NVIDIA in the 4th quarter worth about $29,000. 68.76% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Ajay K. Puri sold 1,078 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $364.97, for a total value of $393,437.66. Following the transaction, the executive vice president now directly owns 68,046 shares in the company, valued at approximately $24,834,748.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A Brooke Seawell sold 629 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $366.27, for a total transaction of $230,383.83. Following the completion of the transaction, the director now owns 16,159 shares in the company, valued at $5,918,556.93. The disclosure for this sale can be found here. Insiders sold a total of 107,376 shares of company stock worth $27,649,807 over the last quarter. 4.47% of the stock is currently owned by company insiders.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.44. NVIDIA had a net margin of 28.17% and a return on equity of 28.59%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business posted $0.88 EPS. NVIDIA’s quarterly revenue was up 38.7% on a year-over-year basis. On average, equities analysts predict that NVIDIA Co. will post 6.46 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 0.18%. NVIDIA’s payout ratio is presently 13.94%.
Several research firms have commented on NVDA. Nomura Securities restated a “sell” rating and issued a $230.00 target price on shares of NVIDIA in a research report on Wednesday, March 4th. Piper Sandler increased their price objective on shares of NVIDIA from $350.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Bank of America reiterated a “buy” rating and issued a $420.00 price objective (up from $360.00) on shares of NVIDIA in a report on Friday, May 22nd. Oppenheimer increased their price objective on shares of NVIDIA from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Finally, Barclays reiterated a “buy” rating and issued a $300.00 price objective on shares of NVIDIA in a report on Friday, February 14th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and thirty-three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $344.73.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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