King Wealth purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,952 shares of the computer hardware maker’s stock, valued at approximately $2,623,000. NVIDIA makes up 1.1% of King Wealth’s investment portfolio, making the stock its 20th largest position.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Budros Ruhlin & Roe Inc. boosted its stake in NVIDIA by 2.4% in the 1st quarter. Budros Ruhlin & Roe Inc. now owns 1,434 shares of the computer hardware maker’s stock worth $378,000 after purchasing an additional 33 shares during the period. Solstein Capital LLC boosted its stake in NVIDIA by 11.1% in the 1st quarter. Solstein Capital LLC now owns 360 shares of the computer hardware maker’s stock worth $95,000 after purchasing an additional 36 shares during the period. San Francisco Sentry Investment Group CA boosted its stake in NVIDIA by 7.3% in the 1st quarter. San Francisco Sentry Investment Group CA now owns 572 shares of the computer hardware maker’s stock worth $151,000 after purchasing an additional 39 shares during the period. HM Payson & Co. boosted its stake in NVIDIA by 1.2% in the 4th quarter. HM Payson & Co. now owns 3,517 shares of the computer hardware maker’s stock worth $828,000 after purchasing an additional 40 shares during the period. Finally, Spotlight Asset Group Inc. boosted its stake in NVIDIA by 2.2% in the 1st quarter. Spotlight Asset Group Inc. now owns 1,886 shares of the computer hardware maker’s stock worth $497,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 68.89% of the company’s stock.
NVIDIA stock traded down $4.67 during trading hours on Tuesday, reaching $347.58. 5,185,022 shares of the company’s stock traded hands, compared to its average volume of 15,264,069. The company has a debt-to-equity ratio of 0.57, a quick ratio of 9.70 and a current ratio of 10.29. NVIDIA Co. has a fifty-two week low of $132.60 and a fifty-two week high of $367.27. The firm has a market capitalization of $215.72 billion, a price-to-earnings ratio of 65.56, a PEG ratio of 3.26 and a beta of 1.38. The firm’s 50 day moving average is $312.46 and its 200-day moving average is $259.69.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. NVIDIA had a net margin of 28.17% and a return on equity of 28.59%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue was up 38.7% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 6.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 0.18%. NVIDIA’s payout ratio is presently 13.94%.
NVDA has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on shares of NVIDIA from $350.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Goldman Sachs Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Tuesday, February 18th. SunTrust Banks lifted their target price on shares of NVIDIA from $327.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Sanford C. Bernstein upped their target price on NVIDIA from $360.00 to $415.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Finally, Tigress Financial reissued a “buy” rating on shares of NVIDIA in a report on Wednesday, April 22nd. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirty-three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $344.73.
In other news, EVP Ajay K. Puri sold 1,078 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $364.97, for a total value of $393,437.66. Following the completion of the sale, the executive vice president now directly owns 68,046 shares of the company’s stock, valued at approximately $24,834,748.62. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 629 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $366.27, for a total value of $230,383.83. Following the completion of the sale, the director now directly owns 16,159 shares of the company’s stock, valued at $5,918,556.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,376 shares of company stock worth $27,649,807. Corporate insiders own 4.47% of the company’s stock.
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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