Ninety One UK Ltd Sells 972,029 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Ninety One UK Ltd lessened its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,746,809 shares of the computer hardware maker's stock after selling 972,029 shares during the period. NVIDIA comprises approximately 2.6% of Ninety One UK Ltd's holdings, making the stock its 10th biggest holding. Ninety One UK Ltd's holdings in NVIDIA were worth $947,979,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of NVIDIA by 6.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 499,748 shares of the computer hardware maker's stock valued at $54,167,000 after purchasing an additional 28,102 shares in the last quarter. Alpha Cubed Investments LLC lifted its position in NVIDIA by 29.9% during the 1st quarter. Alpha Cubed Investments LLC now owns 795,044 shares of the computer hardware maker's stock worth $86,167,000 after buying an additional 182,919 shares in the last quarter. Horst & Graben Wealth Management LLC lifted its position in NVIDIA by 4.1% during the 1st quarter. Horst & Graben Wealth Management LLC now owns 36,707 shares of the computer hardware maker's stock worth $3,978,000 after buying an additional 1,442 shares in the last quarter. Davidson Investment Advisors lifted its position in NVIDIA by 4,808.1% during the 1st quarter. Davidson Investment Advisors now owns 220,275 shares of the computer hardware maker's stock worth $23,873,000 after buying an additional 215,787 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its position in NVIDIA by 3.3% during the 1st quarter. Pekin Hardy Strauss Inc. now owns 10,967 shares of the computer hardware maker's stock worth $1,189,000 after buying an additional 354 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Buying and Selling

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the transaction, the director owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. This represents a 2.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total value of $13,405,500.00. Following the transaction, the chief executive officer directly owned 73,748,225 shares of the company's stock, valued at approximately $13,181,757,736.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,339,800 shares of company stock valued at $800,141,003. 4.17% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NASDAQ NVDA opened at $173.72 on Friday. The business has a 50 day simple moving average of $155.30 and a 200 day simple moving average of $132.32. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.57 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results 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 return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the company posted $0.61 earnings per share. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. Analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Analyst Ratings Changes

Several brokerages recently issued reports on NVDA. Mizuho set a $192.00 price target on shares of NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Bank of America upped their price target on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Morgan Stanley upped their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday. TD Cowen upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, Truist Financial upped their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

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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