Wedge Capital Management L L P NC lessened its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 99.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,162 shares of the computer hardware maker’s stock after selling 214,212 shares during the quarter. Wedge Capital Management L L P NC’s holdings in NVIDIA were worth $328,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Leisure Capital Management raised its stake in NVIDIA by 2.4% in the 4th quarter. Leisure Capital Management now owns 1,945 shares of the computer hardware maker’s stock valued at $572,000 after acquiring an additional 45 shares during the period. Invst LLC raised its stake in NVIDIA by 2.0% in the 4th quarter. Invst LLC now owns 2,269 shares of the computer hardware maker’s stock valued at $508,000 after acquiring an additional 45 shares during the period. Lenox Wealth Advisors LLC raised its stake in NVIDIA by 5.3% in the 1st quarter. Lenox Wealth Advisors LLC now owns 947 shares of the computer hardware maker’s stock valued at $219,000 after acquiring an additional 48 shares during the period. Vivaldi Capital Management LP raised its stake in NVIDIA by 2.5% in the 4th quarter. Vivaldi Capital Management LP now owns 2,028 shares of the computer hardware maker’s stock valued at $596,000 after acquiring an additional 50 shares during the period. Finally, Wealthquest Corp increased its position in shares of NVIDIA by 1.2% during the fourth quarter. Wealthquest Corp now owns 4,130 shares of the computer hardware maker’s stock valued at $1,214,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 62.58% of the company’s stock.
NVIDIA Price Performance
Shares of NVIDIA stock opened at $132.61 on Thursday. The company has a quick ratio of 3.11, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The company has a market cap of $330.20 billion, a PE ratio of 43.48, a P/E/G ratio of 4.39 and a beta of 1.69. The business has a 50 day moving average of $163.39 and a 200 day moving average of $186.32. NVIDIA Co. has a 52 week low of $126.17 and a 52 week high of $346.47.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 8th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.12%. NVIDIA’s dividend payout ratio (DPR) is 5.25%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on NVDA shares. Atlantic Securities decreased their price target on NVIDIA to $205.00 in a research report on Thursday, May 26th. JPMorgan Chase & Co. cut their price objective on NVIDIA from $230.00 to $220.00 in a report on Thursday, August 25th. Citigroup cut their price objective on NVIDIA from $285.00 to $248.00 and set a “buy” rating for the company in a report on Thursday, August 25th. Wedbush reissued a “neutral” rating and set a $160.00 price objective on shares of NVIDIA in a report on Wednesday. Finally, Barclays cut their price objective on NVIDIA from $200.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $214.91.
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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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