TRUE Private Wealth Advisors increased its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,908 shares of the computer hardware maker’s stock after purchasing an additional 456 shares during the period. TRUE Private Wealth Advisors’ holdings in NVIDIA were worth $3,875,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Peoples Financial Services CORP. purchased a new stake in shares of NVIDIA during the third quarter valued at approximately $30,000. Your Advocates Ltd. LLP purchased a new position in NVIDIA during the third quarter valued at $30,000. Marquette Asset Management LLC purchased a new position in NVIDIA during the second quarter valued at $34,000. Trivant Custom Portfolio Group LLC lifted its position in NVIDIA by 44.1% during the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after buying an additional 30 shares during the period. Finally, Quarry LP purchased a new position in NVIDIA during the first quarter valued at $34,000. 64.79% of the stock is currently owned by institutional investors.
NVIDIA Stock Performance
NASDAQ:NVDA opened at $674.72 on Thursday. The stock’s fifty day moving average is $585.36 and its 200 day moving average is $500.02. NVIDIA Co. has a fifty-two week low of $204.21 and a fifty-two week high of $746.11. The firm has a market capitalization of $1.67 trillion, a PE ratio of 89.01, a PEG ratio of 2.16 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.06 and a current ratio of 3.59.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s payout ratio is 2.11%.
Insiders Place Their Bets
In other news, Director Mark A. Stevens sold 36,000 shares of the stock in a transaction on Friday, January 12th. The stock was sold at an average price of $546.95, for a total transaction of $19,690,200.00. Following the transaction, the director now owns 1,134,583 shares of the company’s stock, valued at approximately $620,560,171.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $484.62, for a total transaction of $218,079.00. Following the sale, the insider now owns 50,961 shares of the company’s stock, valued at $24,696,719.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 36,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $546.95, for a total value of $19,690,200.00. Following the sale, the director now directly owns 1,134,583 shares in the company, valued at approximately $620,560,171.85. The disclosure for this sale can be found here. Insiders have sold a total of 155,216 shares of company stock worth $79,810,950 over the last quarter. Company insiders own 3.99% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have commented on NVDA shares. Morgan Stanley raised their price objective on NVIDIA from $603.00 to $750.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Stifel Nicolaus reissued a “buy” rating and set a $600.00 price objective on shares of NVIDIA in a research report on Friday, November 17th. Mizuho raised their price objective on NVIDIA from $625.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Edward Jones lowered NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, Truist Financial lifted their price target on NVIDIA from $668.00 to $674.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $701.93.
Read Our Latest Research Report on NVIDIA
About NVIDIA
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. 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 GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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