Allred Capital Management LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,871 shares of the computer hardware maker’s stock after purchasing an additional 175 shares during the period. NVIDIA makes up 0.9% of Allred Capital Management LLC’s portfolio, making the stock its 24th largest position. Allred Capital Management LLC’s holdings in NVIDIA were worth $1,553,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Hoover Financial Advisors Inc. bought a new stake in NVIDIA in the second quarter worth $32,000. Atlantic Trust LLC raised its stake in shares of NVIDIA by 46.9% during the second quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock valued at $36,000 after acquiring an additional 30 shares during the last quarter. Ellevest Inc. raised its stake in shares of NVIDIA by 256.7% during the second quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 77 shares during the last quarter. Old North State Trust LLC bought a new position in shares of NVIDIA during the third quarter valued at about $59,000. Finally, Crewe Advisors LLC bought a new position in shares of NVIDIA during the third quarter valued at about $67,000. 68.11% of the stock is owned by institutional investors and hedge funds.
Shares of NVIDIA stock opened at $552.46 on Friday. The company has a market cap of $340.87 billion, a price-to-earnings ratio of 101.56, a price-to-earnings-growth ratio of 4.10 and a beta of 1.55. The company’s 50 day moving average is $521.45 and its 200 day moving average is $401.87. NVIDIA Co. has a twelve month low of $180.68 and a twelve month high of $589.07. The company has a quick ratio of 5.51, a current ratio of 6.09 and a debt-to-equity ratio of 0.50.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Wednesday, September 2nd were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 0.12%. NVIDIA’s dividend payout ratio (DPR) is 13.94%.
In other NVIDIA news, CEO Jen Hsun Huang sold 100,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $489.84, for a total value of $48,984,000.00. Following the transaction, the chief executive officer now directly owns 1,370,600 shares in the company, valued at $671,374,704. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 12,692 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $405.60, for a total transaction of $5,147,875.20. Following the completion of the transaction, the executive vice president now owns 61,983 shares in the company, valued at $25,140,304.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,320 shares of company stock worth $87,129,970. 4.47% of the stock is owned by insiders.
Several equities analysts have recently commented on NVDA shares. BMO Capital Markets upped their price objective on shares of NVIDIA from $565.00 to $650.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. Wells Fargo & Company upped their price objective on shares of NVIDIA from $535.00 to $605.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Jefferies Financial Group boosted their price target on shares of NVIDIA from $570.00 to $680.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Piper Sandler boosted their price target on shares of NVIDIA from $390.00 to $540.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $510.00 to $605.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-one have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $521.49.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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