Ring Mountain Capital LLC lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 41.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,015 shares of the computer hardware maker's stock after selling 31,254 shares during the quarter. NVIDIA makes up approximately 3.6% of Ring Mountain Capital LLC's holdings, making the stock its 7th biggest holding. Ring Mountain Capital LLC's holdings in NVIDIA were worth $4,770,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of NVDA. Norges Bank acquired a new position in shares of NVIDIA in the 4th quarter valued at $43,515,504,000. GAMMA Investing LLC raised its stake in shares of NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the period. Northern Trust Corp raised its stake in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. increased its stake in NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after buying an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NVIDIA during the 4th quarter worth $2,987,733,000. Institutional investors and hedge funds own 65.27% of the company's stock.
NVIDIA Price Performance
NASDAQ NVDA opened at $182.02 on Friday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $163.18 and a 200 day simple moving average of $135.00. The company has a market cap of $4.44 trillion, a P/E ratio of 58.72, a P/E/G ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $184.48.
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 analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the company earned $0.61 earnings per share. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The firm also recently disclosed 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 was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is currently 1.29%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on NVDA. Loop Capital raised their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Citigroup boosted their target price on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Piper Sandler set a $225.00 price target on shares of NVIDIA and gave the stock an "overweight" rating in a research report on Wednesday. Raymond James Financial boosted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group assumed coverage on shares of NVIDIA in a report on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $186.33.
Read Our Latest Analysis on NVDA
Insider Buying and Selling at NVIDIA
In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,837,440 shares of company stock worth $889,404,782. Corporate insiders own 4.17% of the company's stock.
About NVIDIA
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider NVIDIA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NVIDIA wasn't on the list.
While NVIDIA currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
MarketBeat All Access