Princeton Global Asset Management LLC Acquires 45,593 Shares of NVIDIA Corporation $NVDA

Princeton Global Asset Management LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) by 313.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 60,161 shares of the computer hardware maker’s stock after acquiring an additional 45,593 shares during the period. NVIDIA comprises about 1.7% of Princeton Global Asset Management LLC’s portfolio, making the stock its 14th largest holding. Princeton Global Asset Management LLC’s holdings in NVIDIA were worth $10,492,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth approximately $62,244,133,000. J. Stern & Co. LLP lifted its position in NVIDIA by 13,709.1% in the fourth quarter. J. Stern & Co. LLP now owns 125,760,307 shares of the computer hardware maker’s stock valued at $23,454,297,000 after purchasing an additional 124,849,603 shares during the last quarter. Cardano Risk Management B.V. boosted its stake in shares of NVIDIA by 896.4% during the fourth quarter. Cardano Risk Management B.V. now owns 78,123,960 shares of the computer hardware maker’s stock valued at $14,570,119,000 after purchasing an additional 70,283,539 shares during the period. Capital Research Global Investors boosted its stake in shares of NVIDIA by 16.1% during the third quarter. Capital Research Global Investors now owns 165,377,852 shares of the computer hardware maker’s stock valued at $30,855,564,000 after purchasing an additional 22,896,705 shares during the period. Finally, Laurel Wealth Advisors LLC grew its holdings in shares of NVIDIA by 15,496.1% in the second quarter. Laurel Wealth Advisors LLC now owns 21,865,525 shares of the computer hardware maker’s stock worth $3,454,534,000 after purchasing an additional 21,725,326 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $194.83 on Monday. NVIDIA Corporation has a 1 year low of $157.34 and a 1 year high of $236.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 2.85. The firm has a 50-day moving average of $210.22 and a 200 day moving average of $193.63. The stock has a market cap of $4.71 trillion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 0.43 and a beta of 2.21.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The business had revenue of $81.61 billion for the quarter, compared to analysts’ expectations of $78.42 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The business’s revenue was up 85.2% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Corporation will post 8.69 EPS for the current fiscal year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Thursday, June 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, June 4th. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s dividend payout ratio (DPR) is currently 15.31%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 20th that permits the company to repurchase $80.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Melius Research set a $400.00 price target on shares of NVIDIA in a report on Thursday, May 21st. DA Davidson reissued a “buy” rating and issued a $300.00 price target on shares of NVIDIA in a report on Monday, June 1st. Royal Bank Of Canada set a $280.00 price objective on shares of NVIDIA in a research note on Thursday, May 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $285.00 target price (up from $250.00) on shares of NVIDIA in a report on Wednesday, May 20th. Finally, Stifel Nicolaus set a $282.00 target price on NVIDIA and gave the stock a “buy” rating in a research note on Thursday, May 21st. Three analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $303.84.

Get Our Latest Analysis on NVIDIA

Insider Activity at NVIDIA

In other news, Director Stephen C. Neal sold 15,500 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $215.73, for a total value of $3,343,815.00. Following the sale, the director directly owned 116,135 shares of the company’s stock, valued at approximately $25,053,803.55. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 885,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $210.17, for a total value of $186,000,450.00. Following the transaction, the director owned 5,207,271 shares of the company’s stock, valued at $1,094,412,146.07. The trade was a 14.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,901,125 shares of company stock valued at $410,583,015 in the last 90 days. Corporate insiders own 3.94% of the company’s stock.

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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.

See Also

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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