Northeast Investment Management Sells 18,497 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Northeast Investment Management lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,246,037 shares of the computer hardware maker's stock after selling 18,497 shares during the quarter. NVIDIA comprises about 6.3% of Northeast Investment Management's investment portfolio, making the stock its 2nd biggest holding. Northeast Investment Management's holdings in NVIDIA were worth $135,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NVDA. FMR LLC boosted its holdings in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after buying an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC boosted its stake in NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new position in NVIDIA in the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp boosted its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Buying and Selling

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 125,836 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $137.79, for a total transaction of $17,338,942.44. Following the completion of the sale, the director now owns 10,149,697 shares of the company's stock, valued at approximately $1,398,526,749.63. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,393,863 shares of company stock worth $483,709,832. 4.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NVDA shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Bank of America raised their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $173.69.

NVIDIA Stock Up 2.6%

Shares of NVDA stock opened at $147.90 on Wednesday. The firm has a fifty day moving average of $127.76 and a 200-day moving average of $126.59. The company has a quick ratio of 2.96, a current ratio of 3.39 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 $153.13. The company has a market capitalization of $3.61 trillion, a price-to-earnings ratio of 47.71, a P/E/G ratio of 1.27 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

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.

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