WASHINGTON TRUST Co trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,941 shares of the computer hardware maker’s stock after selling 705 shares during the quarter. WASHINGTON TRUST Co’s holdings in NVIDIA were worth $19,724,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. PrairieView Partners LLC acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $26,000. Cedar Mountain Advisors LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $34,000. Piscataqua Savings Bank purchased a new stake in shares of NVIDIA during the first quarter worth approximately $37,000. Bartlett & Co. LLC increased its position in shares of NVIDIA by 48.2% during the fourth quarter. Bartlett & Co. LLC now owns 83 shares of the computer hardware maker’s stock worth $43,000 after purchasing an additional 27 shares in the last quarter. Finally, Perennial Advisors LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $49,000. 65.70% of the stock is owned by institutional investors and hedge funds.
NVDA has been the subject of several analyst reports. Oppenheimer upped their target price on NVIDIA from $600.00 to $700.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Piper Sandler upped their target price on NVIDIA from $575.00 to $625.00 and gave the company an “overweight” rating in a report on Wednesday, March 3rd. Needham & Company LLC upped their target price on NVIDIA from $700.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, March 3rd. Cascend Securities upped their target price on NVIDIA from $620.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, March 3rd. Finally, Wedbush upped their target price on NVIDIA from $600.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA presently has a consensus rating of “Buy” and a consensus target price of $606.61.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Tuesday, February 23rd. The computer hardware maker reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.29. NVIDIA had a return on equity of 32.61% and a net margin of 25.89%. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the business posted $1.89 EPS. As a group, analysts predict that NVIDIA Co. will post 7.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 10th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.11%. NVIDIA’s payout ratio is currently 13.94%.
In other NVIDIA news, Director Robert K. Burgess sold 14,500 shares of NVIDIA stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $627.95, for a total value of $9,105,275.00. Also, Director Persis Drell sold 1,200 shares of NVIDIA stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $587.53, for a total value of $705,036.00. Following the completion of the transaction, the director now owns 16,844 shares in the company, valued at $9,896,355.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,804 shares of company stock worth $13,207,675. Company insiders own 4.47% of the company’s stock.
NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, Graphics and Compute & Networking. The 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 design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems.
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