ARS Investment Partners LLC decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 21.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 22,113 shares of the computer hardware maker’s stock after selling 5,937 shares during the quarter. NVIDIA accounts for about 1.4% of ARS Investment Partners LLC’s holdings, making the stock its 25th biggest holding. ARS Investment Partners LLC’s holdings in NVIDIA were worth $5,829,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of NVDA. Accurate Investment Solutions Inc. lifted its position in shares of NVIDIA by 111.1% during the first quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. PrairieView Partners LLC acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $26,000. Howard Wealth Management LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Stonebridge Financial Planning Group LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Finally, Archer Investment Corp acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $29,000. 68.76% of the stock is currently owned by institutional investors and hedge funds.
NVDA traded up $15.54 during trading on Friday, hitting $355.02. The stock had a trading volume of 18,647,994 shares, compared to its average volume of 14,759,365. The firm has a market cap of $218.34 billion, a PE ratio of 66.36, a P/E/G ratio of 3.26 and a beta of 1.33. NVIDIA Co. has a 12 month low of $132.60 and a 12 month high of $367.27. The company has a current ratio of 10.29, a quick ratio of 9.70 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $307.02 and a 200-day simple moving average of $257.48.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.44. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3 billion. NVIDIA had a net margin of 28.17% and a return on equity of 28.59%. The business’s quarterly revenue was up 38.7% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. As a group, sell-side analysts anticipate that NVIDIA Co. will post 6.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a $0.16 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.64 annualized dividend and a yield of 0.18%. NVIDIA’s dividend payout ratio is 13.94%.
In other news, Director James C. Gaither sold 15,669 shares of NVIDIA stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $269.41, for a total transaction of $4,221,385.29. Following the sale, the director now directly owns 2,221 shares in the company, valued at approximately $598,359.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 20,000 shares of NVIDIA stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $222.33, for a total transaction of $4,446,600.00. Following the sale, the director now owns 13,935 shares in the company, valued at $3,098,168.55. 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 90 days. Company insiders own 4.47% of the company’s stock.
NVDA has been the topic of several analyst reports. Bank of America restated a “buy” rating and issued a $420.00 price target (up previously from $360.00) on shares of NVIDIA in a research note on Friday, May 22nd. Deutsche Bank raised their price target on shares of NVIDIA from $300.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, May 18th. 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. Wells Fargo & Co increased their price objective on shares of NVIDIA from $360.00 to $430.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Finally, Raymond James increased their price objective on shares of NVIDIA from $330.00 to $370.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Four 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 stock. The stock presently has an average rating of “Buy” and an average 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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