Baxter Bros Inc. Raises Position in NVIDIA Corporation $NVDA

Baxter Bros Inc. boosted its holdings in NVIDIA Corporation (NASDAQ:NVDAFree Report) by 56.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 10,087 shares of the computer hardware maker’s stock after purchasing an additional 3,652 shares during the period. Baxter Bros Inc.’s holdings in NVIDIA were worth $1,759,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after acquiring an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of NVIDIA by 1.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock valued at $315,100,000 after acquiring an additional 22,929 shares during the last quarter. Highview Capital Management LLC DE boosted its holdings in shares of NVIDIA by 6.7% during the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock worth $7,842,000 after purchasing an additional 3,653 shares during the period. Hudson Value Partners LLC grew its stake in shares of NVIDIA by 30.7% in the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock worth $6,805,000 after purchasing an additional 11,900 shares during the last quarter. Finally, Wealth Group Ltd. grew its stake in shares of NVIDIA by 15.7% in the first quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker’s stock worth $715,000 after purchasing an additional 896 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director Stephen C. Neal sold 15,500 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the sale, the director owned 116,135 shares in the company, valued at approximately $25,053,803.55. The trade was a 11.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 625 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $214.00, for a total transaction of $133,750.00. Following the completion of the sale, the director directly owned 14,163 shares in the company, valued at $3,030,882. This represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,901,125 shares of company stock valued at $410,583,015. 3.94% of the stock is currently owned by company insiders.

Key NVIDIA News

Here are the key news stories impacting NVIDIA this week:

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of NVIDIA in a research report on Tuesday, June 2nd. BNP Paribas Exane lifted their price objective on NVIDIA from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Wedbush boosted their target price on NVIDIA from $300.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. UBS Group upped their target price on NVIDIA from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, CICC Research raised their price target on NVIDIA from $240.60 to $268.30 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.26.

Get Our Latest Research Report on NVDA

NVIDIA Stock Down 2.4%

NVDA stock opened at $207.40 on Friday. NVIDIA Corporation has a fifty-two week low of $164.07 and a fifty-two week high of $236.54. The company has a market capitalization of $5.02 trillion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 0.47 and a beta of 2.21. The business’s 50 day moving average price is $209.88 and its two-hundred day moving average price is $195.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.85 and a current ratio of 3.44.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The company had revenue of $81.61 billion during the quarter, compared to analysts’ expectations of $78.42 billion. During the same quarter last year, the business posted $0.81 EPS. The firm’s revenue for the quarter was up 85.2% compared to the same quarter last year. As a group, analysts forecast that NVIDIA Corporation will post 8.8 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 20th that allows the company to buyback $80.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Thursday, June 4th were given a dividend of $0.25 per share. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, June 4th. NVIDIA’s payout ratio is 15.31%.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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