Independent Wealth Network Inc. acquires 216 shares of NVIDIA Co. (NASDAQ: NVDA)
Independent Wealth Network Inc. increased its holdings of NVIDIA Co. stock (NASDAQ: NVDA – Get a rating) by 18.1% in the 1st quarter, according to its most recent communication to the Securities and Exchange Commission (SEC). The fund held 1,411 shares of the hardware maker after buying an additional 216 shares during the period. Independent Wealth Network Inc.’s holdings in NVIDIA were worth $385,000 at the end of last quarter.
A number of other hedge funds and other institutional investors have also increased or reduced their stakes in the company. Piscataqua Savings Bank increased its stake in NVIDIA by 14.3% during the fourth quarter. Piscataqua Savings Bank now owns 320 shares of the hardware maker worth $94,000 after buying 40 more shares in the last quarter. Venture Visionary Partners LLC increased its stake in NVIDIA shares by 0.3% during the fourth quarter. Venture Visionary Partners LLC now owns 15,776 shares of the hardware maker worth $4,639,000 after buying 43 more shares last quarter. Tranquility Partners LLC increased its stake in NVIDIA shares by 1.0% during the fourth quarter. Tranquility Partners LLC now owns 4,384 shares of the hardware maker worth $1,290,000 after buying 44 more shares last quarter. Mcdaniel Terry & Co. increased its stake in NVIDIA shares by 2.1% during the fourth quarter. Mcdaniel Terry & Co. now owns 2,202 shares of the hardware maker worth $648,000 after buying 45 more shares last quarter. Finally, Accurate Wealth Management LLC increased its stake in NVIDIA shares by 1.3% during the fourth quarter. Accurate Wealth Management LLC now owns 3,405 shares of the hardware maker worth $959,000 after buying 45 more shares in the last quarter. Hedge funds and other institutional investors own 55.19% of the company’s shares.
In other NVIDIA news, Director Jean Dabiri sold 2,200 shares of the company in a trade on Friday, May 27. The shares were sold at an average price of $185.59, for a total value of $408,298.00. Following completion of the transaction, the administrator now directly owns 2,712 shares of the company, valued at approximately $503,320.08. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Also, director Mark A.Stevens sold 113,850 shares of the company in a transaction on Monday, June 13. The shares were sold at an average price of $158.03, for a total transaction of $17,991,715.50. Following completion of the transaction, the administrator now directly owns 2,596,493 shares of the company, valued at $410,323,788.79. Disclosure of this sale can be found here. In the past three months, insiders have sold 139,694 shares of the company valued at $22,850,524. Insiders hold 4.04% of the shares of the company.
NVIDIA Stock opened at $145.23 on Friday. NVIDIA Co. has a 1-year low of $143.92 and a 1-year high of $346.47. The company has a market capitalization of $363.08 billion, a price/earnings ratio of 38.94, a P/E/G ratio of 2.30 and a beta of 1.59. The company has a current ratio of 5.32, a quick ratio of 4.75 and a debt ratio of 0.42. The company has a 50-day simple moving average of $175.12 and a 200-day simple moving average of $225.49.
NVIDIA (NASDAQ: NVDA – Get a rating) last released its quarterly earnings data on Wednesday, May 25. The hardware maker reported earnings per share of $1.36 for the quarter, beating analysts’ consensus estimate of $1.29 by $0.07. NVIDIA had a net margin of 32.02% and a return on equity of 43.81%. The company posted revenue of $8.29 billion in the quarter, versus analyst estimates of $8.09 billion. During the same period of the previous year, the company achieved EPS of $0.78. NVIDIA’s revenue increased by 46.4% compared to the same quarter last year. On average, equity research analysts expect NVIDIA Co. to post EPS of 4.54 for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Thursday, June 9 received a dividend of $0.04. This represents an annualized dividend of $0.16 and a yield of 0.11%. The ex-dividend date was Wednesday, June 8. NVIDIA’s payout ratio is 4.29%.
A number of research companies have weighed in on NVDA recently. Piper Sandler cut her price target on NVIDIA from $350.00 to $250.00 and set an “overweight” rating for the company in a Wednesday, May 25 report. Wells Fargo & Company cut its price target on NVIDIA from $370.00 to $250.00 and set an “overweight” rating for the company in a Friday, May 20 report. Needham & Company LLC cut its price target on NVIDIA from $400.00 to $240.00 and set a “buy” rating for the company in a Thursday, May 26 report. JPMorgan Chase & Co. cut its price target on NVIDIA from $350.00 to $285.00 in a Thursday, May 26 report. Finally, Susquehanna Bancshares cut its price target on NVIDIA from $280.00 to $260.00 and set a “positive” rating for the company in a Thursday, May 26 report. Seven investment analysts gave the stock a hold rating, twenty-six gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $266.41.
NVIDIA Profile (Get a rating)
NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s 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 GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.
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