Amalgamated Bank Grows Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Amalgamated Bank lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,187,245 shares of the computer hardware maker's stock after purchasing an additional 108,112 shares during the period. NVIDIA comprises 4.8% of Amalgamated Bank's investment portfolio, making the stock its 3rd largest holding. Amalgamated Bank's holdings in NVIDIA were worth $562,194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centerpoint Advisory Group lifted its stake in shares of NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares during the period. GSB Wealth Management LLC lifted its stake in shares of NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its stake in shares of NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after acquiring an additional 3,206 shares during the period. Financial Perspectives Inc lifted its stake in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after acquiring an additional 1,265 shares during the period. Finally, Hickory Point Bank & Trust acquired a new position in shares of NVIDIA in the fourth quarter worth approximately $2,272,000. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVDA has been the topic of several recent analyst reports. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Oppenheimer boosted their price target on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Mizuho set a $192.00 target price on NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Rosenblatt Securities upped their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One 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 given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $181.22.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock valued at $734,906,003 in the last 90 days. 4.17% of the stock is owned by insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $167.03 on Wednesday. The business's 50-day moving average price is $146.99 and its two-hundred day moving average price is $129.81. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $174.25. The stock has a market cap of $4.08 trillion, a P/E ratio of 53.88, a PEG ratio of 1.51 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 earnings per share. As a group, equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA's payout ratio is 1.29%.

NVIDIA Company Profile

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.

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