Almanack Investment Partners LLC. trimmed its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 20.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,952 shares of the computer hardware maker's stock after selling 7,040 shares during the period. NVIDIA makes up approximately 0.6% of Almanack Investment Partners LLC.'s holdings, making the stock its 24th biggest holding. Almanack Investment Partners LLC.'s holdings in NVIDIA were worth $3,029,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. GAMMA Investing LLC grew its stake in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp grew its stake in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on NVDA shares. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Rosenblatt Securities lifted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Barclays lifted their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Oppenheimer lifted their target price on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Raymond James Financial lifted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $181.22.
Read Our Latest Stock Report on NVDA
NVIDIA Stock Performance
NASDAQ:NVDA opened at $167.03 on Wednesday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.25. The stock has a 50-day moving average price of $146.99 and a 200 day moving average price of $129.81. The stock has a market capitalization of $4.08 trillion, a P/E ratio of 53.88, a P/E/G ratio of 1.51 and a beta of 2.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 earnings per share. Equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA's payout ratio is currently 1.29%.
Insider Transactions at NVIDIA
In other news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,964,800 shares of company stock valued at $734,906,003. Company insiders own 4.17% of the company's stock.
NVIDIA Company Profile
(
Free Report)
NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
Further Reading
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