Manning & Napier Advisors LLC Raises Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Manning & Napier Advisors LLC raised its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 105.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,190,153 shares of the computer hardware maker's stock after buying an additional 609,721 shares during the quarter. NVIDIA makes up approximately 1.6% of Manning & Napier Advisors LLC's portfolio, making the stock its 17th biggest position. Manning & Napier Advisors LLC's holdings in NVIDIA were worth $128,989,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BCR Wealth Strategies LLC boosted its stake in shares of NVIDIA by 3.1% during the fourth quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock valued at $391,000 after acquiring an additional 89 shares during the last quarter. Condor Capital Management boosted its stake in shares of NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after acquiring an additional 89 shares during the last quarter. Squire Investment Management Company LLC boosted its stake in shares of NVIDIA by 4.0% during the fourth quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock valued at $317,000 after acquiring an additional 91 shares during the last quarter. Kelly Financial Services LLC boosted its stake in shares of NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after acquiring an additional 94 shares during the last quarter. Finally, Macroview Investment Management LLC boosted its stake in shares of NVIDIA by 2.9% during the fourth quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker's stock valued at $461,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NVDA shares. Raymond James Financial increased their target price on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating and set a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. TD Cowen increased their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, Loop Capital increased their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average target price of $177.03.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $164.92 on Friday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $167.89. The business has a 50 day moving average price of $141.53 and a two-hundred day moving average price of $128.77. 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 firm has a market cap of $4.02 trillion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.45 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the business earned $0.61 EPS. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given 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%.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction that occurred 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 transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock worth $660,253,045 in the last quarter. Insiders own 4.17% of the company's stock.

NVIDIA Company 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.

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