Gemmer Asset Management LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 87.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,346 shares of the computer hardware maker’s stock after acquiring an additional 21,576 during the period. NVIDIA comprises about 1.6% of Gemmer Asset Management LLC’s portfolio, making the stock its 18th biggest position. Gemmer Asset Management LLC’s holdings in NVIDIA were worth $12,646,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in NVIDIA by 2.1% during the 4th quarter. BlackRock Inc. Now owns 177,839,722 shares of the computer hardware maker’s stock worth $52,304,441,000 after buying an additional 3,591,440 shares during the period. Geode Capital Management LLC lifted its holdings in NVIDIA by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 41,888,133 shares of the computer hardware maker’s stock worth $12,287,340,000 after buying an additional 1,505,461 shares during the period. Northern Trust Corp lifted its holdings in NVIDIA by 0.3% during the 4th quarter. Northern Trust Corp now owns 28,364,911 shares of the computer hardware maker’s stock worth $8,342,404,000 after buying an additional 88,332 shares during the period. Norges Bank acquired a new position in NVIDIA during the 4th quarter worth about $6,279,217,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in NVIDIA by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. Now owns 12,026,064 shares of the computer hardware maker’s stock worth $3,536,987,000 after buying an additional 304,829 shares during the period. Institutional investors and hedge funds own 55.19% of the company’s stock.
In other NVIDIA news, EVP Debora Shoquist sold 23,644 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $188.23, for a total value of $4,450,510.12. Following the completion of the sale, the executive vice president now directly owns 186,476 shares in the company, valued at $35,100,377.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 2,200 shares of the firm’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $185.59, for a total transaction of $408,298.00. Following the completion of the sale, the director now owns 2,712 shares of the company’s stock, valued at $503,320.08. The disclosure for this sale can be found here. In the last three months, insiders sold 139,694 shares of company stock worth $22,850,524. 4.04% of the stock is owned by insiders.
Shares of NVDA opened at $145.23 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 4.75 and a current ratio of 5.32. The stock has a 50 day moving average price of $175.12 and a two-hundred day moving average price of $226.04. The firm has a market capitalization of $363.08 billion, a P/E ratio of 38.94, a P/E/G ratio of 2.30 and a beta of 1.59. NVIDIA Co. has a 52 week low of $143.92 and a 52 week high of $346.47.
NVIDIA (NASDAQ:NVDA – Get Rating) last posted its quarterly earnings data on Wednesday, May 25th. The computer hardware maker reported $1.36 EPS for the quarter, beating the consensus estimate of $1.29 by $0.07. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. NVIDIA’s revenue for the quarter was up 46.4% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 4.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Thursday, June 9th were given a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.11%. NVIDIA’s dividend payout ratio (DPR) is presently 4.29%.
Several brokerages have commented on NVDA. Wedbush cut their target price on NVIDIA from $300.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Susquehanna Bancshares dropped their objective price on NVIDIA from $280.00 to $260.00 and set a “positive” rating on the stock in a research note on Thursday, May 26th. Raymond James dropped their objective price on NVIDIA from $365.00 to $250.00 in a research note on Thursday, May 26th. Morgan Stanley dropped their objective price on NVIDIA from $217.00 to $182.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 26th. Finally, Wells Fargo & Company dropped their objective price on NVIDIA from $370.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.41.
NVIDIA Profile (Get Rating)
NVIDIA Corporation provides graphics, compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for information systems; and Omniverse software for building 3D designs and virtual worlds.
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