Washington Trust Advisors Inc. Sells 10,371 Shares of NVIDIA Corporation $NVDA

Washington Trust Advisors Inc. lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) by 5.5% during the 4th quarter, Holdings Channel reports. The fund owned 179,011 shares of the computer hardware maker’s stock after selling 10,371 shares during the period. NVIDIA comprises approximately 2.6% of Washington Trust Advisors Inc.’s holdings, making the stock its 11th largest position. Washington Trust Advisors Inc.’s holdings in NVIDIA were worth $33,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of NVDA. Brighton Jones LLC boosted its position in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after acquiring an additional 35,815 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in NVIDIA by 1.0% during the 4th 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 in the last quarter. Highview Capital Management LLC DE boosted its position in NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock valued at $7,842,000 after acquiring an additional 3,653 shares in the last quarter. Hudson Value Partners LLC boosted its position in NVIDIA by 30.7% during the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock valued at $6,805,000 after acquiring an additional 11,900 shares in the last quarter. Finally, Wealth Group Ltd. boosted its position in NVIDIA by 15.7% during the 1st quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker’s stock valued at $715,000 after acquiring an additional 896 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 221,682 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $173.68, for a total transaction of $38,501,729.76. Following the sale, the director directly owned 7,399,771 shares of the company’s stock, valued at approximately $1,285,192,227.28. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 20,000 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $174.89, for a total value of $3,497,800.00. Following the sale, the chief financial officer directly owned 83,060 shares in the company, valued at $14,526,363.40. This represents a 19.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 906,961 shares of company stock worth $162,936,268 in the last three months. Company insiders own 3.94% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $224.36 on Tuesday. The business’s 50-day moving average is $200.19 and its two-hundred day moving average is $189.85. The company has a market capitalization of $5.43 trillion, a P/E ratio of 34.36, a P/E/G ratio of 0.51 and a beta of 2.22. 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 Corporation has a fifty-two week low of $135.40 and a fifty-two week high of $236.54.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.11. The company had revenue of $81.62 billion for the quarter, compared to the consensus estimate of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The firm’s revenue for the quarter was up 85.2% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. Research analysts predict that NVIDIA Corporation will post 8.04 earnings per share for the current year.

NVIDIA announced that its board has approved a share buyback plan on Wednesday, May 20th that allows the company to buyback $80.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.4%. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s payout ratio is 0.61%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVDA. Rothschild & Co Redburn increased their price objective on NVIDIA from $280.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Wedbush increased their price objective on NVIDIA from $300.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Wells Fargo & Company reiterated an “overweight” rating and set a $315.00 price objective (up from $265.00) on shares of NVIDIA in a report on Tuesday, May 12th. HSBC reiterated a “buy” rating and set a $325.00 price objective (up from $295.00) on shares of NVIDIA in a report on Tuesday, May 19th. Finally, BNP Paribas Exane increased their price objective on NVIDIA from $270.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $305.38.

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NVIDIA 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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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