Boston Common Asset Management LLC Acquires 38,003 Shares of NVIDIA Co. (NASDAQ:NVDA)

Boston Common Asset Management LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 11.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,869 shares of the computer hardware maker's stock after acquiring an additional 38,003 shares during the quarter. NVIDIA makes up 1.2% of Boston Common Asset Management LLC's investment portfolio, making the stock its 10th largest position. Boston Common Asset Management LLC's holdings in NVIDIA were worth $39,870,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter worth about $43,515,504,000. Northern Trust Corp grew its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after buying an additional 34,441,082 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of NVIDIA during the fourth quarter worth about $2,987,733,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of NVIDIA by 11.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,898,191 shares of the computer hardware maker's stock worth $26,978,618,000 after buying an additional 20,494,402 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Rosenblatt Securities lifted their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Needham & Company LLC reissued a "buy" rating and issued a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Finally, William Blair reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $171.66.

NVIDIA Stock Performance

Shares of NVIDIA stock traded down $1.13 during trading on Wednesday, hitting $142.83. 166,804,211 shares of the stock were exchanged, compared to its average volume of 277,376,658. The stock's fifty day moving average is $119.94 and its 200 day moving average is $126.23. The stock has a market cap of $3.49 trillion, a PE ratio of 56.21, a P/E/G ratio of 1.76 and a beta of 2.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm's revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director now owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,614,169 shares of company stock worth $366,510,238 in the last 90 days. Corporate insiders own 4.17% of the company's stock.

About NVIDIA

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.