Carlton Hofferkamp & Jenks Wealth Management LLC boosted its holdings in NVIDIA Co. (NASDAQ: NVDA – Get Rating) by 53.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,517 shares of the computer hardware maker’s stock after buying an additional 528 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in NVIDIA were worth $ 351,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lbmc Investment Advisors LLC bought a new position in NVIDIA during the 1st quarter worth approximately $ 255,000. Swarthmore Group Inc. grew its position in NVIDIA by 9.5% in the 1st quarter. Swarthmore Group Inc. now owns 1,114 shares of the computer hardware maker’s stock valued at $ 304,000 after purchasing an additional 97 shares during the period. Nordea Investment Management AB grew its position in NVIDIA by 0.6% in the 1st quarter. Nordea Investment Management AB now owns 2,550,122 shares of the computer hardware maker’s stock valued at $ 707,786,000 after purchasing an additional 15,245 shares during the period. Everence Capital Management Inc. grew its position in NVIDIA by 19.6% in the 1st quarter. Everence Capital Management Inc. now owns 75,496 shares of the computer hardware maker’s stock valued at $ 20,600,000 after purchasing an additional 12,390 shares during the period. Finally, Bennett Selby Investments LP purchased a new position in NVIDIA during the 1st quarter worth $ 566,000. Institutional investors and hedge funds own 55.19% of the company stock.
Shares of NASDAQ: NVDA opened at $ 165.66 on Wednesday. The stock has a market capitalization of $ 414.15 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 2.13 and a beta of 1.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 4.75 and a current ratio of 5.32. The stock’s 50-day simple moving average is $ 183.54 and its two-hundred day simple moving average is $ 233.47. NVIDIA Co. has a 52-week low of $ 153.28 and a 52-week high of $ 346.47.
NVIDIA (NASDAQ: NVDA – Get Rating) last announced its earnings results on Wednesday, May 25th. The computer hardware maker reported $ 1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.29 by $ 0.07. The business had revenue of $ 8.29 billion for the quarter, compared to analysts’ expectations of $ 8.09 billion. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same period last year, the firm posted $ 0.78 earnings per share. As a group, equities analysts forecast that NVIDIA Co. will post 4.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Thursday, June 9th will be given a $ 0.04 dividend. The ex-dividend date of this dividend is Wednesday, June 8th. This represents a $ 0.16 annualized dividend and a yield of 0.10%. NVIDIA’s payout ratio is 4.29%.
In other news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $ 274.06, for a total value of $ 27,406,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 113,850 shares of the firm’s stock in a transaction dated Monday, June 13th. 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 transaction, the director now directly owns 2,596,493 shares in the company, valued at approximately $ 410,323,788.79. The disclosure for this sale can be found here. Insiders sold 239,694 shares of company stock worth $ 50,256,524 over the last three months. Insiders own 4.04% of the company stock.
NVDA has been the topic of a number of recent analyst reports. Cowen lowered their target price on NVIDIA from $ 350.00 to $ 265.00 in a research note on Thursday, May 26th. Needham & Company LLC decreased their price target on NVIDIA from $ 400.00 to $ 240.00 and set a “buy” rating on the stock in a research report on Thursday, May 26th. Mizuho decreased their price target on NVIDIA from $ 345.00 to $ 290.00 and set a “buy” rating on the stock in a research report on Thursday, May 26th. Wells Fargo & Company cut their price objective on NVIDIA from $ 370.00 to $ 250.00 and set an “overweight” rating for the company in a report on Friday, May 20th. Finally, Oppenheimer cut their price objective on NVIDIA from $ 350.00 to $ 300.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. Seven investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $ 270.97.
About NVIDIA: (Get Rating)
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company 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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