NVIDIA Corporation (NASDAQ:NVDA) is IFM Investors Pty Ltd's 2nd Largest Position

Key Points

• IFM Investors Pty Ltd increased its position in NVIDIA Corporation by 9.3% during the first quarter, making it the firm's second-largest holding worth approximately $550 million.
• A number of hedge funds have made significant adjustments to their holdings in NVIDIA, with some increasing their stakes by over 12,000% during recent quarters.
• Despite strong revenue of $44.06 billion for the quarter, NVIDIA missed earnings per share estimates, reporting $0.81 compared to the expected $0.87.

IFM Investors Pty Ltd boosted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,076,075 shares of the computer hardware maker's stock after acquiring an additional 430,174 shares during the period. NVIDIA accounts for 5.4% of IFM Investors Pty Ltd's portfolio, making the stock its 2nd largest position. IFM Investors Pty Ltd's holdings in NVIDIA were worth $550,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. boosted its stake in NVIDIA by 0.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after acquiring an additional 864 shares during the last quarter. Centerpoint Advisory Group boosted its stake in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares during the last quarter. GSB Wealth Management LLC boosted its stake in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares during the last quarter. Variant Private Wealth LLC lifted its stake in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after buying an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc lifted its stake in NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after buying an additional 1,265 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 168,195 shares of the business's 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 sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock valued at $800,141,003 over the last ninety days. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 2.3%

NASDAQ:NVDA traded down $4.15 during trading hours on Friday, reaching $173.72. The company had a trading volume of 203,669,565 shares, compared to its average volume of 248,821,531. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $183.30. 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 $4.24 trillion, a price-to-earnings ratio of 56.04, a P/E/G ratio of 1.58 and a beta of 2.13. The business's 50-day simple moving average is $154.45 and its two-hundred day simple moving average is $132.03.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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). The firm 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 business's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVDA. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research report on Thursday, April 3rd. Oppenheimer raised their price objective on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Jefferies Financial Group raised their target price on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Finally, Wedbush restated an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus target price of $182.03.

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.