Palisade Capital Management LLC NJ Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Palisade Capital Management LLC NJ raised its position in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 0.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,900 shares of the computer hardware maker’s stock after acquiring an additional 100 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in NVIDIA were worth $2,974,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in NVIDIA during the 4th quarter valued at approximately $44,000. RFG Advisory LLC boosted its holdings in shares of NVIDIA by 9.1% in the 4th quarter. RFG Advisory LLC now owns 6,455 shares of the computer hardware maker’s stock worth $1,899,000 after purchasing an additional 536 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of NVIDIA by 15.6% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 511,880 shares of the computer hardware maker’s stock worth $150,565,000 after purchasing an additional 69,066 shares during the period. TFC Financial Management boosted its holdings in shares of NVIDIA by 17.9% in the 4th quarter. TFC Financial Management now owns 1,199 shares of the computer hardware maker’s stock worth $353,000 after purchasing an additional 182 shares during the period. Finally, MV Capital Management Inc. boosted its holdings in shares of NVIDIA by 12.2% in the 4th quarter. MV Capital Management Inc. now owns 1,060 shares of the computer hardware maker’s stock worth $312,000 after purchasing an additional 115 shares during the period. Institutional investors own 55.19% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $189.89 on Friday. The stock has a market capitalization of $474.73 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.95 and a beta of 1.65. NVIDIA Co. has a twelve month low of $140.55 and a twelve month high of $346.47. The company has a current ratio of 5.32, a quick ratio of 4.75 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $169.18 and a 200 day moving average of $205.64.

NVIDIA (NASDAQ:NVDAGet Rating) last released its earnings results on Wednesday, May 25th. The computer hardware maker reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.09. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.09 billion. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The business’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 4.48 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Thursday, June 9th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $0.16 annualized dividend and a yield of 0.08%. NVIDIA’s dividend payout ratio (DPR) is 4.29%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on NVIDIA from $217.00 to $182.00 and set an “equal weight” rating for the company in a report on Thursday, May 26th. Benchmark restated a “buy” rating and set a $228.00 price objective (down previously from $365.00) on shares of NVIDIA in a report on Thursday, May 26th. Oppenheimer dropped 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. Wells Fargo & Company dropped 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, Deutsche Bank Aktiengesellschaft decreased their target price on NVIDIA from $190.00 to $175.00 in a research report on Wednesday, July 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.24.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 113,850 shares of NVIDIA stock in a transaction on 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 sale, the director now directly owns 2,596,493 shares of the company’s stock, valued at $410,323,788.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, Director John Dabiri sold 2,200 shares of NVIDIA stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $185.59, for a total transaction of $408,298.00. Following the completion of the sale, the director now directly owns 2,712 shares of the company’s stock, valued at approximately $503,320.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 113,850 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $158.03, for a total value of $17,991,715.50. Following the completion of the sale, the director now directly owns 2,596,493 shares of the company’s stock, valued at $410,323,788.79. The disclosure for this sale can be found here. Insiders sold a total of 139,694 shares of company stock valued at $22,850,524 over the last quarter. 4.04% of the stock is owned by insiders.

NVIDIA Company Profile

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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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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