Center Asset Management LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) in Q1, reports Holdings Channel.com. The institutional investor bought 18,753 shares of the hardware maker, valued at around $5,117,000. NVIDIA represents 1.6% of Center Asset Management LLC’s portfolio, making the stock its 24th largest holding.
Several other institutional investors have also recently bought and sold shares of the stock. Meadow Creek Wealth Advisors LLC increased its position in NVIDIA shares by 24.6% in the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 4,141 shares of the hardware maker worth $1,130,000 after buying 818 additional shares during the period. LVM Capital Management Ltd. MI increased its position in NVIDIA by 156.4% in the 1st quarter. LVM Capital Management Ltd. MI now owns 5,584 shares of the hardware maker valued at $1,524,000 after buying 3,406 additional shares in the last quarter. Baldwin Brothers LLC MA increased its position in NVIDIA by 39.2% in Q1. Baldwin Brothers LLC MA now owns 4,532 shares of the hardware maker valued at $1,237,000 after buying 1,276 additional shares in the last quarter. Guinness Asset Management LTD increased its position in NVIDIA by 2.2% in the 1st quarter. Guinness Asset Management LTD now owns 89,756 shares of the hardware maker valued at $24,491,000 after buying an additional 1,975 shares in the last quarter. Finally, Coastal Investment Advisors Inc. increased its position in NVIDIA by 41.0% in the 1st quarter. Coastal Investment Advisors Inc. now owns 24,583 shares of the hardware maker valued at $6,708,000 after buying an additional 7,143 shares in the last quarter. Institutional investors and hedge funds hold 55.19% of the company’s shares.
Several stock analysts have published reports on the company. Oppenheimer cut his price target on NVIDIA from $350.00 to $300.00 and set an “outperform” rating for the company in a Thursday, May 19 research 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 research note. Wedbush reduced its price target on NVIDIA from $300.00 to $190.00 and set a “neutral” rating for the company in a Thursday, May 19 research note. Atlantic Securities reduced its price target on NVIDIA to $205.00 in a Thursday, May 26 research note. Finally, Goldman Sachs Group began covering NVIDIA in a research note on Monday, March 7. They set a “neutral” rating and a price target of $245.00 for the company. Seven investment analysts gave the stock a hold rating, twenty-seven issued a buy rating and one gave the company’s stock a high buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $270.97.
NASDAQ:NVDA opened at $171.26 on Friday. The stock has a 50-day simple moving average of $180.53 and a 200-day simple moving average of $230.97. The stock has a market capitalization of $428.15 billion, a P/E ratio of 45.91, a PEG ratio of 2.20 and a beta of 1.59. NVIDIA Co. has a 1-year low of $153.28 and a 1-year high of $346.47. The company has a current ratio of 5.32, a quick ratio of 4.75 and a debt ratio of 0.42.
NVIDIA (NASDAQ:NVDA – Get Rating) last released its results 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 return on equity of 43.81% and a net margin of 32.02%. The company posted revenue of $8.29 billion in the quarter, versus a consensus estimate of $8.09 billion. In the same quarter last year, the company earned $0.78 per share. The company’s revenue increased 46.4% year over year. As a group, sell-side analysts expect NVIDIA Co. to post EPS of 4.54 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Thursday, June 9 will receive a dividend of $0.04 per share. The ex-dividend date is Wednesday, June 8. This represents a dividend of $0.16 on an annualized basis and a dividend yield of 0.09%. NVIDIA’s payout ratio is currently 4.29%.
In other NVIDIA news, director Tench Coxe sold 100,000 shares of the company in a trade dated Monday, March 28. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The transaction was disclosed in a document filed with the SEC, accessible via this link. Additionally, director Mark A. Stevens sold 113,850 shares of the company in a trade that took place on Monday, June 13. The stock was sold at an average price of $158.03, for a total transaction of $17,991,715.50. Following the sale, the director now directly owns 2,596,493 shares of the company, valued at approximately $410,323,788.79. The disclosure of this sale can be found here. During the last quarter, insiders sold 239,694 shares of the company valued at $50,256,524. 4.04% of the shares are held by insiders of the company.
About NVIDIA (Get an evaluation)
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 games 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.
Want to see what other hedge funds hold NVDA? Visit HoldingsChannel.com for the latest 13F filings and insider trading for NVIDIA Co. (NASDAQ:NVDA – Get Rating).
Get news and reviews for NVIDIA Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for NVIDIA and related companies with MarketBeat.com’s free daily email newsletter.