NVIDIA Corporation (NASDAQ:NVDA) is Avanza Fonder AB's 2nd Largest Position

Avanza Fonder AB lowered its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 6.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,224,576 shares of the computer hardware maker's stock after selling 151,916 shares during the period. NVIDIA accounts for approximately 8.1% of Avanza Fonder AB's portfolio, making the stock its 2nd biggest holding. Avanza Fonder AB's holdings in NVIDIA were worth $245,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First National Bank of Mount Dora Trust Investment Services raised its holdings in NVIDIA by 11.1% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 133,041 shares of the computer hardware maker's stock valued at $14,419,000 after acquiring an additional 13,310 shares during the last quarter. SJS Investment Consulting Inc. grew its position in shares of NVIDIA by 8.5% in the first quarter. SJS Investment Consulting Inc. now owns 50,452 shares of the computer hardware maker's stock valued at $5,468,000 after purchasing an additional 3,951 shares in the last quarter. Sonora Investment Management Group LLC increased its holdings in shares of NVIDIA by 1.8% in the first quarter. Sonora Investment Management Group LLC now owns 111,974 shares of the computer hardware maker's stock valued at $12,136,000 after purchasing an additional 2,021 shares during the last quarter. Paragon Advisors LLC increased its holdings in shares of NVIDIA by 37.8% in the first quarter. Paragon Advisors LLC now owns 91,194 shares of the computer hardware maker's stock valued at $9,884,000 after purchasing an additional 24,993 shares during the last quarter. Finally, Crescent Sterling Ltd. lifted its position in NVIDIA by 14.5% during the first quarter. Crescent Sterling Ltd. now owns 7,874 shares of the computer hardware maker's stock worth $853,000 after buying an additional 996 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Insiders Place Their Bets

In other NVIDIA news, Director A Brooke Seawell sold 55,282 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $144.71, for a total transaction of $7,999,858.22. Following the completion of the transaction, the director now owns 1,944,718 shares in the company, valued at $281,420,141.78. The trade was a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 50,000 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $144.26, for a total transaction of $7,213,000.00. Following the completion of the sale, the chief executive officer now directly owns 75,723,225 shares in the company, valued at approximately $10,923,832,438.50. This represents a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,393,863 shares of company stock worth $483,709,832 in the last quarter. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Up 2.6%

NVDA traded up $3.73 during trading hours on Tuesday, hitting $147.90. 187,010,174 shares of the company's stock were exchanged, compared to its average volume of 270,622,127. The firm has a market cap of $3.61 trillion, a P/E ratio of 47.71, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $153.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $127.76 and a 200 day moving average of $126.59.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Analysts Set New Price Targets

Several brokerages have issued reports on NVDA. Wedbush restated an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Morgan Stanley restated an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.05.

NVIDIA 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.