Ipswich Investment Management Co. Inc. reduced its holdings of NVIDIA Co. (NASDAQ: NVDA – Get Rating) stock by 13.5% during the 1st quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund held 12,724 shares of the hardware maker after selling 1,988 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in NVIDIA were worth $3,472,000 at the end of the last quarter.
Other institutional investors and hedge funds also changed their positions in the company. Disciplined Investments LLC bought a new position in NVIDIA stock during Q4 for $25,000. Rather & Kittrell Inc. bought a new position in NVIDIA stock during Q4 for $26,000. Advanced Research Investment Solutions LLC bought a new NVIDIA stock position during Q4 worth $29,000. Claremont Financial Group Inc. bought a new position in NVIDIA stock during Q4 for $29,000. Finally, IFS Advisors LLC bought a new position in NVIDIA stock during Q4 worth $37,000. 55.19% of the shares are currently held by institutional investors.
NVDA shares opened at $158.38 on Friday. The stock has a 50-day moving average price of $171.29 and a 200-day moving average price of $220.87. The company has a quick ratio of 4.75, a current ratio of 5.32 and a leverage ratio of 0.42. The company has a market capitalization of $395.95 billion, a price-to-earnings ratio of 42.46, a growth price-to-earnings ratio of 2.41 and a beta of 1.64. NVIDIA Co. has a 52-week low of $140.55 and a 52-week high of $346.47.
NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly results on Wednesday, May 25. The hardware maker reported earnings per share (EPS) of $1.36 for the quarter, beating analyst consensus estimates of $1.29 by $0.07. The company posted revenue of $8.29 billion in the quarter, versus a consensus estimate of $8.09 billion. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The company’s quarterly revenue increased by 46.4% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.78. On average, stock analysts expect NVIDIA Co. to post EPS of 4.53 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 1. Investors of record on Thursday, June 9 received a dividend of $0.04. This represents a dividend of $0.16 on an annualized basis and a yield of 0.10%. The ex-dividend date was Wednesday, June 8. NVIDIA’s dividend payout ratio (DPR) is 4.29%.
In other NVIDIA news, 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 value of $17,991,715.50. Following the completion of the sale, the administrator now owns 2,596,493 shares of the company, valued at $410,323,788.79. The sale was disclosed in a document filed with the SEC, which is available via this link. Additionally, director John Dabiri sold 2,200 shares of the company in a deal that took place on Friday, May 27. The shares were sold at an average price of $185.59, for a total value of $408,298.00. Following the completion of the sale, the director now owns 2,712 shares of the company, valued at approximately $503,320.08. The disclosure of this sale can be found here. Insiders sold 139,694 shares of the company valued at $22,850,524 in the past ninety days. 4.04% of the shares are currently held by company insiders.
Several research analysts have recently commented on the company. Mizuho cut its price target on NVIDIA from $345.00 to $290.00 and set a “buy” rating on the stock in a Thursday, May 26 report. Cowen cut his price target on NVIDIA shares from $350.00 to $265.00 in a Thursday, May 26 report. Deutsche Bank Aktiengesellschaft cut its price target on NVIDIA shares from $255.00 to $190.00 in a Thursday, May 26 report. JPMorgan Chase & Co. cut its price target on NVIDIA stock from $350.00 to $285.00 in a report Thursday, May 26. Finally, Cowen cut his price target on NVIDIA stock from $350.00 to $265.00 and set an “outperform” rating on the stock in a Thursday, May 26 report. Seven equity research analysts gave the stock a hold rating, twenty-six gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $261.85.
NVIDIA Company Profile (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.
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