Massachusetts Financial Services Co. MA Sells 7,338,656 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Massachusetts Financial Services Co. reduced its shareholding in NVIDIA Corporation by 11.2% during the first quarter, selling 7,338,656 shares, but still holds approximately $6.32 billion worth of the stock.
• Multiple institutional investors, including Brighton Jones LLC and Hudson Value Partners LLC, have increased their positions in NVIDIA, showcasing ongoing interest in the stock.
• Analysts have a consensus rating of "Moderate Buy" for NVIDIA, with recent price targets boosted to between $175 and $210 by various firms, despite the company recently reporting earnings that missed estimates.

Massachusetts Financial Services Co. MA decreased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,350,327 shares of the computer hardware maker's stock after selling 7,338,656 shares during the quarter. NVIDIA comprises about 2.1% of Massachusetts Financial Services Co. MA's portfolio, making the stock its 2nd biggest holding. Massachusetts Financial Services Co. MA owned about 0.24% of NVIDIA worth $6,324,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased 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 acquiring an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock worth $315,100,000 after acquiring an additional 22,929 shares during the last quarter. Highview Capital Management LLC DE increased its holdings in shares of NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after acquiring an additional 3,653 shares during the last quarter. Hudson Value Partners LLC increased its holdings in shares of NVIDIA by 30.7% during the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock worth $6,805,000 after acquiring an additional 11,900 shares during the last quarter. Finally, Oak Hill Wealth Advisors LLC increased its holdings in shares of NVIDIA by 194.1% during the 4th quarter. Oak Hill Wealth Advisors LLC now owns 15,206 shares of the computer hardware maker's stock worth $2,042,000 after acquiring an additional 31,372 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity

In other news, CFO Colette Kress sold 27,640 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.06, for a total value of $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares of the company's stock, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $182.38, for a total value of $13,678,500.00. Following the completion of the sale, the chief executive officer directly owned 73,223,225 shares of the company's stock, valued at approximately $13,354,451,775.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,687,440 shares of company stock valued at $862,095,782. Insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NVDA. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Jefferies Financial Group boosted their price target on NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. TD Cowen boosted their price target on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Truist Financial boosted their price target on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC boosted their price target on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $183.75.

NVIDIA Price Performance

NVIDIA stock opened at $182.67 on Monday. The company has a market capitalization of $4.46 trillion, a PE ratio of 58.93, a P/E/G ratio of 1.61 and a beta of 2.14. The stock has a 50-day moving average price of $159.82 and a two-hundred day moving average price of $133.62. 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 Corporation has a 12 month low of $86.62 and a 12 month high of $183.88.

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 the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business 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. 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 is presently 1.29%.

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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