Azzad Asset Management Inc. ADV Grows Position in NVIDIA Corporation (NASDAQ:NVDA)

Azzad Asset Management Inc. ADV increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 258,166 shares of the computer hardware maker's stock after acquiring an additional 6,798 shares during the quarter. NVIDIA comprises about 3.3% of Azzad Asset Management Inc. ADV's investment portfolio, making the stock its 2nd largest holding. Azzad Asset Management Inc. ADV's holdings in NVIDIA were worth $27,980,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. FMR LLC boosted its stake in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new stake in shares of NVIDIA in the 4th quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp boosted its stake in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert K. Burgess sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the sale, the director now owns 201,044 shares of the company's stock, valued at $27,104,752.08. This trade represents a 19.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer now directly owns 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,792,267 shares of company stock worth $544,823,117. 4.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NVDA shares. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Susquehanna reiterated a "positive" rating and set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Mizuho lifted their target price on shares of NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.78.

NVIDIA Stock Performance

NVDA stock opened at $157.75 on Friday. The firm has a market cap of $3.85 trillion, a price-to-earnings ratio of 50.89, a PEG ratio of 1.40 and a beta of 2.12. The firm has a 50-day simple moving average of $130.96 and a two-hundred day simple moving average of $126.97. NVIDIA Corporation has a one year low of $86.62 and a one year high of $158.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

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 company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a $0.01 dividend. 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 presently 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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