Centre Asset Management LLC Has $19.34 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Centre Asset Management LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,472 shares of the computer hardware maker's stock after selling 32,809 shares during the quarter. NVIDIA makes up approximately 5.0% of Centre Asset Management LLC's portfolio, making the stock its 3rd biggest position. Centre Asset Management LLC's holdings in NVIDIA were worth $19,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new position in NVIDIA during the 4th quarter worth $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the 4th quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the 4th quarter worth $40,000. Copia Wealth Management purchased a new position in NVIDIA during the 4th quarter worth $50,000. Finally, LSV Asset Management purchased a new position in NVIDIA during the 4th quarter worth $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVDA. Citigroup restated a "buy" rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. Susquehanna reiterated a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Raymond James increased their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $171.66.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director now owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares of the company's stock, valued at $28,993,071.56. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,614,169 shares of company stock valued at $366,510,238 in the last quarter. Company insiders own 4.17% of the company's stock.

NVIDIA Trading Down 0.8%

NASDAQ NVDA traded down $1.13 during mid-day trading on Wednesday, hitting $142.83. The company's stock had a trading volume of 166,804,211 shares, compared to its average volume of 277,376,658. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $153.13. The stock's fifty day simple moving average is $119.94 and its two-hundred day simple moving average is $126.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.49 trillion, a P/E ratio of 56.21, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 EPS. Research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid 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 dividend payout ratio (DPR) 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.