Intact Investment Management Inc. Raises Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Intact Investment Management Inc. raised its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 35.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,000 shares of the computer hardware maker's stock after acquiring an additional 21,600 shares during the period. Intact Investment Management Inc.'s holdings in NVIDIA were worth $8,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Fishman Jay A Ltd. MI raised its holdings in shares of NVIDIA by 21.7% during the 1st quarter. Fishman Jay A Ltd. MI now owns 291,846 shares of the computer hardware maker's stock worth $31,630,000 after acquiring an additional 51,948 shares in the last quarter. Union Savings Bank raised its holdings in shares of NVIDIA by 5.6% during the 1st quarter. Union Savings Bank now owns 16,451 shares of the computer hardware maker's stock worth $1,783,000 after acquiring an additional 877 shares in the last quarter. First American Bank raised its holdings in shares of NVIDIA by 0.8% during the 1st quarter. First American Bank now owns 374,028 shares of the computer hardware maker's stock worth $40,537,000 after acquiring an additional 3,037 shares in the last quarter. Bernardo Wealth Planning LLC increased its position in shares of NVIDIA by 10.6% during the 1st quarter. Bernardo Wealth Planning LLC now owns 9,564 shares of the computer hardware maker's stock valued at $1,037,000 after purchasing an additional 918 shares during the last quarter. Finally, Canton Hathaway LLC increased its position in shares of NVIDIA by 248.6% during the 1st quarter. Canton Hathaway LLC now owns 32,313 shares of the computer hardware maker's stock valued at $3,502,000 after purchasing an additional 23,043 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total value of $12,233,250.00. Following the sale, the chief executive officer directly owned 74,873,225 shares of the company's stock, valued at $12,212,571,729.75. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director A Brooke Seawell sold 49,131 shares of NVIDIA stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $162.83, for a total value of $8,000,000.73. Following the transaction, the director owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. The trade was a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,520,246 shares of company stock worth $660,253,045 over the last ninety days. Corporate insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. TD Cowen boosted their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Truist Financial boosted their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Needham & Company LLC reissued a "buy" rating and set a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Rosenblatt Securities boosted their target price on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $177.03.

NVIDIA Stock Up 0.7%

Shares of NVDA stock opened at $164.10 on Friday. The stock has a 50 day moving average of $140.52 and a 200 day moving average of $128.60. 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 stock has a market cap of $4.00 trillion, a P/E ratio of 52.94, a P/E/G ratio of 1.44 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $164.50.

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 the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for 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 firm's revenue was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

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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