NVIDIA Corporation (NASDAQ:NVDA) Stake Reduced by WD Rutherford LLC

WD Rutherford LLC reduced its stake in NVIDIA Corporation (NASDAQ:NVDAFree Report) by 3.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 119,155 shares of the computer hardware maker’s stock after selling 3,720 shares during the period. NVIDIA comprises approximately 7.0% of WD Rutherford LLC’s investment portfolio, making the stock its largest position. WD Rutherford LLC’s holdings in NVIDIA were worth $13,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. FMR LLC boosted its holdings in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its stake in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp grew its holdings in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NVDA. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. DA Davidson increased their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Monday, June 16th. Bank of America lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.19.

Read Our Latest Analysis on NVIDIA

NVIDIA Stock Up 1.3%

Shares of NASDAQ:NVDA opened at $159.28 on Friday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $160.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock has a market cap of $3.89 trillion, a P/E ratio of 51.38, a P/E/G ratio of 1.39 and a beta of 2.13. The firm has a fifty day moving average price of $135.41 and a 200 day moving average price of $127.64.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the company posted $0.61 EPS. NVIDIA’s quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.29%.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director A Brooke Seawell sold 51,740 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the transaction, the director directly owned 1,576,709 shares in the company, valued at $243,790,745.58. This represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is owned by company insiders.

About NVIDIA

(Free Report)

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. 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 workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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