Mackenzie Financial Corp Sells 1,104,676 Shares of NVIDIA Corporation $NVDA

Key Points

• Mackenzie Financial Corp reduced its holdings in NVIDIA Corporation by 12.1%, owning 8,052,365 shares after selling 1,104,676 shares in the first quarter.
• Equity analysts have raised their target prices for NVIDIA, with Loop Capital increasing its target from $175.00 to $250.00 and Citigroup raising its target from $190.00 to $210.00, reflecting strong buy sentiments.
• NVIDIA recently reported earnings of $1.05 EPS, surpassing expectations, alongside a revenue growth of 55.6% year-over-year, amounting to $46.74 billion for the quarter.

Mackenzie Financial Corp lessened its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,052,365 shares of the computer hardware maker's stock after selling 1,104,676 shares during the quarter. NVIDIA comprises about 1.2% of Mackenzie Financial Corp's holdings, making the stock its 13th largest holding. Mackenzie Financial Corp's holdings in NVIDIA were worth $872,715,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NVDA. Astoria Portfolio Advisors LLC. increased its position in NVIDIA by 0.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after acquiring an additional 864 shares during the period. Centerpoint Advisory Group increased its holdings in shares of NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares during the last quarter. GSB Wealth Management LLC increased its holdings in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after purchasing an additional 1,043 shares in the last quarter. Variant Private Wealth LLC boosted its position in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after buying an additional 3,206 shares during the last quarter. Finally, Financial Perspectives Inc lifted its position in shares of NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,862,440 shares of company stock worth $896,145,782 in the last ninety days. Corporate insiders own 4.17% of the company's stock.

Analyst Ratings Changes

NVDA has been the topic of a number of research analyst reports. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Wedbush reissued an "outperform" rating and set a $210.00 target price on shares of NVIDIA in a research note on Thursday. Loop Capital lifted their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, August 19th. Finally, BNP Paribas raised shares of NVIDIA to a "hold" rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $207.69.

NVIDIA Trading Down 3.3%

NVDA stock traded down $5.99 during midday trading on Friday, reaching $174.18. The company's stock had a trading volume of 242,604,296 shares, compared to its average volume of 168,293,824. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. The stock has a market cap of $4.23 trillion, a PE ratio of 49.62, a price-to-earnings-growth ratio of 1.58 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 4.21 and a debt-to-equity ratio of 0.08. The business's 50-day simple moving average is $170.83 and its 200-day simple moving average is $139.02.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The firm had revenue of $46.74 billion for the quarter, compared to analyst estimates of $45.65 billion. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. The company's revenue was up 55.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. NVIDIA has set its Q3 2026 guidance at EPS. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is currently 1.14%.

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.