Washington Capital Management Inc. cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 53.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the computer hardware maker’s stock after selling 3,400 shares during the period. Washington Capital Management Inc.’s holdings in NVIDIA Corporation were worth $327,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of NVIDIA Corporation by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock worth $105,000 after buying an additional 157 shares during the last quarter. Coconut Grove Bank increased its position in shares of NVIDIA Corporation by 683.9% in the first quarter. Coconut Grove Bank now owns 1,215 shares of the computer hardware maker’s stock worth $132,000 after buying an additional 1,060 shares during the last quarter. TrimTabs Asset Management LLC increased its position in shares of NVIDIA Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 1,598 shares of the computer hardware maker’s stock worth $174,000 after buying an additional 752 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of NVIDIA Corporation during the first quarter worth approximately $182,000. Finally, Greenleaf Trust bought a new position in shares of NVIDIA Corporation during the first quarter worth approximately $203,000. 70.10% of the stock is owned by hedge funds and other institutional investors.
Shares of NVIDIA Corporation (NVDA) traded up 1.6458% during midday trading on Tuesday, reaching $159.9092. 7,777,218 shares of the company were exchanged. The stock has a 50-day moving average price of $134.62 and a 200 day moving average price of $112.04. NVIDIA Corporation has a 52-week low of $44.57 and a 52-week high of $168.50. The company has a market capitalization of $95.15 billion, a P/E ratio of 53.6788 and a beta of 1.24.
NVIDIA Corporation (NASDAQ:NVDA) last announced its earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.66 by $0.16. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. NVIDIA Corporation’s revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. Equities research analysts expect that NVIDIA Corporation will post $3.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 14th. Investors of record on Tuesday, May 23rd were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, May 19th. NVIDIA Corporation’s payout ratio is 18.60%.
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A number of equities analysts have commented on the company. Vetr upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $117.19 target price for the company in a research note on Thursday, May 4th. Stifel Nicolaus lifted their target price on NVIDIA Corporation from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Rosenblatt Securities restated a “buy” rating and issued a $140.00 target price on shares of NVIDIA Corporation in a research note on Friday, May 19th. Zacks Investment Research upgraded NVIDIA Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. Finally, B. Riley restated a “buy” rating and issued a $135.00 target price on shares of NVIDIA Corporation in a research note on Wednesday, March 22nd. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $118.26.
In related news, EVP Ajay K. Puri sold 133,542 shares of NVIDIA Corporation stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $108.53, for a total transaction of $14,493,313.26. Following the completion of the sale, the executive vice president now owns 601,367 shares of the company’s stock, valued at approximately $65,266,360.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $129.48, for a total transaction of $6,474,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 410,304 shares of company stock valued at $54,139,604 in the last ninety days. 5.17% of the stock is currently owned by insiders.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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