Xcel Wealth Management LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,836 shares of the computer hardware maker’s stock after acquiring an additional 582 shares during the quarter. NVIDIA accounts for about 1.5% of Xcel Wealth Management LLC’s holdings, making the stock its 22nd largest position. Xcel Wealth Management LLC’s holdings in NVIDIA were worth $4,184,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. PrairieView Partners LLC acquired a new position in NVIDIA in the 4th quarter valued at approximately $26,000. Cedar Mountain Advisors LLC acquired a new position in NVIDIA in the 4th quarter valued at approximately $34,000. Bartlett & Co. LLC increased its stake in NVIDIA by 48.2% in the 4th quarter. Bartlett & Co. LLC now owns 83 shares of the computer hardware maker’s stock valued at $43,000 after buying an additional 27 shares during the period. Perennial Advisors LLC acquired a new position in NVIDIA in the 4th quarter valued at approximately $49,000. Finally, Westside Investment Management Inc. increased its stake in NVIDIA by 123.8% in the 1st quarter. Westside Investment Management Inc. now owns 94 shares of the computer hardware maker’s stock valued at $27,784,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 65.70% of the company’s stock.
Several research firms have weighed in on NVDA. Cascend Securities upped their price objective on shares of NVIDIA from $620.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, March 3rd. Credit Suisse Group upped their price objective on shares of NVIDIA from $620.00 to $700.00 and gave the company an “outperform” rating in a research note on Tuesday, April 13th. Mizuho upped their price objective on shares of NVIDIA from $650.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, April 13th. Susquehanna Bancshares boosted their target price on shares of NVIDIA from $625.00 to $700.00 and gave the stock a “positive” rating in a research report on Monday, February 22nd. Finally, Truist boosted their target price on shares of NVIDIA from $672.00 to $700.00 in a research report on Thursday, February 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. NVIDIA has an average rating of “Buy” and a consensus price target of $606.61.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Tuesday, February 23rd. The computer hardware maker reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.29. NVIDIA had a net margin of 25.89% and a return on equity of 32.61%. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the prior year, the firm earned $1.89 EPS. Analysts expect that NVIDIA Co. will post 7.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 10th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend was Tuesday, March 9th. NVIDIA’s dividend payout ratio is 13.94%.
In other news, Director Robert K. Burgess sold 14,500 shares of the stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $627.95, for a total value of $9,105,275.00. Also, Director Persis Drell sold 1,200 shares of the stock in a transaction on Monday, April 12th. The shares were sold at an average price of $587.53, for a total transaction of $705,036.00. Following the completion of the transaction, the director now owns 16,844 shares of the company’s stock, valued at approximately $9,896,355.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,804 shares of company stock valued at $13,207,675. Corporate insiders own 4.47% of the company’s stock.
NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.
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