Wilbanks Smith & Thomas Asset Management LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 1st quarter, Holdings Channel reports. The institutional investor bought 2,588 shares of the computer hardware maker’s stock, valued at approximately $465,000.
Several other hedge funds and other institutional investors have also modified their holdings of NVDA. Harvest Group Wealth Management LLC bought a new stake in NVIDIA in the 1st quarter valued at $30,000. Truvestments Capital LLC bought a new stake in NVIDIA in the 1st quarter valued at $33,000. Creative Financial Designs Inc. ADV boosted its stake in NVIDIA by 181.2% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 194 shares of the computer hardware maker’s stock valued at $35,000 after purchasing an additional 125 shares during the period. TD Capital Management LLC bought a new stake in NVIDIA in the 4th quarter valued at $27,000. Finally, Paragon Capital Management LLC bought a new stake in NVIDIA in the 1st quarter valued at $36,000. Institutional investors own 67.56% of the company’s stock.
Several analysts recently issued reports on the company. Barclays reduced their price target on NVIDIA from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. BidaskClub downgraded NVIDIA from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 1st. Summit Redstone downgraded NVIDIA to a “hold” rating in a research note on Friday, May 17th. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $158.57 target price for the company. in a research report on Friday, May 17th. Finally, UBS Group cut their target price on NVIDIA from $210.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-five have issued a buy rating to the stock. NVIDIA has a consensus rating of “Hold” and a consensus target price of $198.38.
NVDA traded down $4.48 on Friday, reaching $143.78. The stock had a trading volume of 288,983 shares, compared to its average volume of 11,648,382. NVIDIA Co. has a fifty-two week low of $124.46 and a fifty-two week high of $292.76. The company has a quick ratio of 7.78, a current ratio of 8.98 and a debt-to-equity ratio of 0.25. The stock has a market cap of $89.04 billion, a PE ratio of 23.65, a PEG ratio of 3.72 and a beta of 2.03.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business’s revenue for the quarter was down 30.8% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA Co. will post 4.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 31st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.45%. NVIDIA’s payout ratio is presently 10.54%.
In other news, EVP Debora Shoquist sold 5,823 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $185.00, for a total value of $1,077,255.00. Following the completion of the sale, the executive vice president now owns 171,783 shares of the company’s stock, valued at $31,779,855. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 14,092 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $183.33, for a total value of $2,583,486.36. The disclosure for this sale can be found here. 4.64% of the stock is owned by corporate insiders.
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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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