Forsta AP Fonden decreased its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 548,500 shares of the computer hardware maker’s stock after selling 20,900 shares during the period. NVIDIA makes up 1.7% of Forsta AP Fonden’s portfolio, making the stock its 7th largest holding. Forsta AP Fonden’s holdings in NVIDIA were worth $149,664,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rather & Kittrell Inc. acquired a new stake in NVIDIA during the fourth quarter worth $26,000. Emerson Wealth LLC acquired a new stake in NVIDIA during the first quarter worth $27,000. Roble Belko & Company Inc boosted its stake in NVIDIA by 550.0% during the first quarter. Roble Belko & Company Inc now owns 104 shares of the computer hardware maker’s stock worth $28,000 after buying an additional 88 shares in the last quarter. Advanced Research Investment Solutions LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at $29,000. Finally, Claremont Financial Group Inc. acquired a new stake in shares of NVIDIA in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 55.19% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on NVDA shares. JPMorgan Chase & Co. cut their price target on NVIDIA from $350.00 to $285.00 in a report on Thursday, May 26th. Benchmark reissued a “buy” rating and set a $228.00 price objective (down from $365.00) on shares of NVIDIA in a report on Thursday, May 26th. Credit Suisse Group lowered their price target on NVIDIA to $205.00 in a research note on Thursday, May 26th. Raymond James decreased their price objective on NVIDIA from $365.00 to $250.00 in a research report on Thursday, May 26th. Finally, Barclays decreased their price objective on NVIDIA from $295.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Seven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $252.24.
NVIDIA Stock Performance
NVIDIA (NASDAQ:NVDA – Get Rating) last issued its quarterly earnings data on Wednesday, May 25th. The computer hardware maker reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period last year, the company earned $0.78 earnings per share. The firm’s revenue was up 46.4% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 4.48 EPS for the current year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Thursday, June 9th were given a dividend of $0.04 per share. 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 0.08%. NVIDIA’s dividend payout ratio (DPR) is 4.29%.
Insider Transactions at NVIDIA
In other news, 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 transaction, the director now directly owns 2,712 shares in the company, valued at $503,320.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, Director John Dabiri sold 2,200 shares of NVIDIA stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $185.59, for a total value of $408,298.00. Following the completion of the sale, the director now directly owns 2,712 shares in the company, valued at $503,320.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 113,850 shares of NVIDIA stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $158.03, for a total value of $17,991,715.50. Following the completion of the sale, the director now owns 2,596,493 shares of the company’s stock, valued at $410,323,788.79. The disclosure for this sale can be found here. Insiders sold 139,694 shares of company stock worth $22,850,524 over the last ninety days. 4.04% of the stock is owned by insiders.
NVIDIA Corporation provides graphics, and 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 infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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