Sonora Investment Management LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,281 shares of the computer hardware maker’s stock after selling 36 shares during the period. Sonora Investment Management LLC’s holdings in NVIDIA were worth $684,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. New England Investment & Retirement Group Inc. increased its stake in shares of NVIDIA by 2.2% during the first quarter. New England Investment & Retirement Group Inc. now owns 3,644 shares of the computer hardware maker’s stock worth $1,946,000 after purchasing an additional 80 shares during the period. Lindbrook Capital LLC increased its stake in shares of NVIDIA by 1.0% during the first quarter. Lindbrook Capital LLC now owns 2,246 shares of the computer hardware maker’s stock worth $1,199,000 after purchasing an additional 22 shares during the period. Duncker Streett & Co. Inc. increased its stake in shares of NVIDIA by 511.9% during the first quarter. Duncker Streett & Co. Inc. now owns 5,954 shares of the computer hardware maker’s stock worth $3,179,000 after purchasing an additional 4,981 shares during the period. Wilkinson Global Asset Management LLC bought a new position in shares of NVIDIA during the first quarter worth approximately $31,450,000. Finally, Howland Capital Management LLC increased its stake in NVIDIA by 1.3% during the 1st quarter. Howland Capital Management LLC now owns 2,381 shares of the computer hardware maker’s stock worth $1,271,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 65.70% of the company’s stock.
NVDA has been the topic of a number of recent research reports. Needham & Company LLC raised their price objective on NVIDIA from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, March 3rd. Susquehanna Bancshares raised their price objective on NVIDIA from $625.00 to $700.00 and gave the stock a “positive” rating in a research note on Monday, February 22nd. Piper Sandler raised their target price on NVIDIA from $575.00 to $625.00 and gave the company an “overweight” rating in a report on Wednesday, March 3rd. Rosenblatt Securities raised their target price on NVIDIA from $700.00 to $800.00 and gave the company a “buy” rating in a report on Monday, April 19th. Finally, Susquehanna raised their target price on NVIDIA from $625.00 to $700.00 and gave the company a “positive” rating in a report on Monday, February 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. NVIDIA presently has an average rating of “Buy” and a consensus price target of $606.61.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Tuesday, February 23rd. The computer hardware maker reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.29. NVIDIA had a net margin of 25.89% and a return on equity of 32.61%. The company had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the prior year, the company posted $1.89 EPS. As a group, equities analysts forecast that NVIDIA Co. will post 7.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 10th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, March 9th. NVIDIA’s payout ratio is 13.94%.
In other news, Director Robert K. Burgess sold 14,500 shares of the firm’s stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $627.95, for a total value of $9,105,275.00. Also, Director Persis Drell sold 1,200 shares of the firm’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $587.53, for a total transaction of $705,036.00. Following the completion of the transaction, the director now directly owns 16,844 shares in the company, valued at approximately $9,896,355.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,804 shares of company stock worth $13,207,675. Insiders own 4.47% of the company’s stock.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, Graphics and Compute & Networking. The 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 design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems.
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