Jennison Associates LLC Has $9.69 Billion Stake in NVIDIA Corporation (NASDAQ:NVDA)

Jennison Associates LLC trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,367,948 shares of the computer hardware maker's stock after selling 7,884,124 shares during the quarter. NVIDIA makes up about 6.8% of Jennison Associates LLC's portfolio, making the stock its biggest holding. Jennison Associates LLC owned 0.37% of NVIDIA worth $9,685,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NVDA. Condor Capital Management grew its position in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after acquiring an additional 89 shares during the last quarter. High Note Wealth LLC lifted its stake in shares of NVIDIA by 0.5% in the 1st quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock valued at $1,937,000 after purchasing an additional 91 shares during the period. Kelly Financial Services LLC lifted its stake in shares of NVIDIA by 2.0% in the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares during the period. Mendel Capital Management LLC lifted its stake in shares of NVIDIA by 0.8% in the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after purchasing an additional 96 shares during the period. Finally, Affiance Financial LLC lifted its stake in shares of NVIDIA by 0.7% in the 1st quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker's stock valued at $1,479,000 after purchasing an additional 97 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the sale, the chief executive officer directly owned 72,998,225 shares of the company's stock, valued at approximately $13,240,418,050.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 27,640 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the transaction, the chief financial officer directly owned 2,956,876 shares of the company's stock, valued at approximately $526,501,340.56. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,837,440 shares of company stock worth $889,404,782 over the last three months. 4.17% of the stock is owned by insiders.

NVIDIA Trading Up 0.2%

NASDAQ NVDA opened at $182.02 on Friday. The stock's 50-day simple moving average is $163.18 and its two-hundred day simple moving average is $135.00. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48. 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 company has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.72, a PEG ratio of 1.60 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the business posted $0.61 earnings per share. The firm's quarterly revenue was up 69.2% compared to the same quarter last year. Research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NVDA shares. Truist Financial boosted their price objective on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Phillip Securities raised NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Benchmark reissued a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Citigroup increased their price objective on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, The Goldman Sachs Group initiated coverage on NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $186.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.