Gateway Investment Advisers LLC Increases Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Gateway Investment Advisers LLC boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,599,046 shares of the computer hardware maker's stock after purchasing an additional 88,307 shares during the quarter. NVIDIA accounts for approximately 5.7% of Gateway Investment Advisers LLC's holdings, making the stock its 3rd biggest position. Gateway Investment Advisers LLC's holdings in NVIDIA were worth $498,445,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Wealth Group Ltd. grew its position in NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after buying an additional 100 shares in the last quarter. Tallon Kerry Patrick acquired a new position in NVIDIA in the 4th quarter valued at approximately $972,000. Capital & Planning LLC lifted its position in shares of NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock worth $1,021,000 after acquiring an additional 1,099 shares during the period. Ironwood Wealth Management LLC. lifted its position in shares of NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after acquiring an additional 104 shares during the period. Finally, Brighton Jones LLC grew its holdings in shares of NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after purchasing an additional 35,815 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 0.9%

Shares of NASDAQ NVDA opened at $145.48 on Friday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $153.13. The company has a 50-day moving average of $125.72 and a two-hundred day moving average of $126.66. The company has a market cap of $3.55 trillion, a PE ratio of 46.93, a P/E/G ratio of 1.28 and a beta of 2.12. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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 analyst estimates of $43.09 billion. During the same period in the prior year, the business earned $0.61 EPS. The business's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity

In other news, Director Mark A. Stevens sold 125,836 shares of NVIDIA stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $137.79, for a total transaction of $17,338,942.44. Following the completion of the sale, the director now owns 10,149,697 shares in the company, valued at $1,398,526,749.63. The trade was a 1.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert K. Burgess sold 50,000 shares of the 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 completion of the transaction, the director now owns 201,044 shares in the company, valued at $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,469,685 shares of company stock valued at $349,669,962 over the last 90 days. 4.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVDA. Benchmark restated a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. UBS Group reissued a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Raymond James Financial increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. Mizuho raised their price objective on shares of NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Finally, Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $173.05.

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.

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