NVIDIA Corporation (NASDAQ:NVDA) is Capital Investment Counsel Inc's 2nd Largest Position

Key Points

• Capital Investment Counsel Inc increased its stake in NVIDIA Corporation by 4.8%, holding 658,425 shares valued at approximately $71.36 million, making it the company's second-largest investment.
• NVIDIA's shares rose by 1.9% recently, trading at $176.75, with the company's market capitalization reaching $4.31 trillion.
• CEO Jen Hsun Huang and CFO Colette Kress sold substantial amounts of NVIDIA stock, indicating a 0.10% decrease and 0.92% decrease in their positions, respectively.

Capital Investment Counsel Inc lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 658,425 shares of the computer hardware maker's stock after buying an additional 30,207 shares during the quarter. NVIDIA makes up about 10.6% of Capital Investment Counsel Inc's investment portfolio, making the stock its 2nd largest holding. Capital Investment Counsel Inc's holdings in NVIDIA were worth $71,360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in NVIDIA during the 4th quarter valued at about $43,515,504,000. GAMMA Investing LLC grew its position in NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the period. 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 purchasing an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after buying an additional 23,948,733 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research analyst reports. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Morgan Stanley increased their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday. DA Davidson increased their price objective on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Bank of America raised their price target on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Finally, Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's 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 completion of the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,264,800 shares of company stock valued at $786,735,503 over the last quarter. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Up 0.0%

NVDA stock traded up $0.01 during trading hours on Thursday, hitting $179.28. The company's stock had a trading volume of 78,538,820 shares, compared to its average volume of 248,032,719. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $153.55 and a two-hundred day moving average price of $131.72. The company has a market capitalization of $4.37 trillion, a PE ratio of 57.69, a price-to-earnings-growth ratio of 1.55 and a beta of 2.13. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the firm posted $0.61 EPS. The business's quarterly revenue was up 69.2% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

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.