Zullo Investment Group Inc. decreased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,001 shares of the computer hardware maker's stock after selling 4,684 shares during the quarter. NVIDIA comprises 6.3% of Zullo Investment Group Inc.'s holdings, making the stock its 2nd largest holding. Zullo Investment Group Inc.'s holdings in NVIDIA were worth $14,631,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. FMR LLC grew its stake in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after buying an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after buying an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new stake in shares of NVIDIA in the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp boosted its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $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.
Analyst Upgrades and Downgrades
NVDA has been the topic of several recent research reports. Wedbush restated an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Barclays raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Truist Financial boosted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. DA Davidson increased their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Finally, Rosenblatt Securities lifted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $183.75.
Check Out Our Latest Research Report on NVDA
Insider Transactions at NVIDIA
In related news, CFO Colette Kress sold 27,640 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $182.38, for a total transaction of $13,678,500.00. Following the sale, the chief executive officer owned 73,223,225 shares of the company's stock, valued at $13,354,451,775.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,687,440 shares of company stock valued at $862,095,782 over the last three months. 4.17% of the stock is owned by corporate insiders.
NVIDIA Stock Performance
Shares of NASDAQ NVDA traded down $0.64 during midday trading on Monday, reaching $182.06. 138,011,711 shares of the company were exchanged, compared to its average volume of 244,601,375. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.88. The stock has a market cap of $4.44 trillion, a P/E ratio of 58.73, a PEG ratio of 1.61 and a beta of 2.14. The stock has a fifty day simple moving average of $159.82 and a 200 day simple moving average of $133.62. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its 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 return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the company earned $0.61 earnings per share. The business's revenue for the quarter was up 69.2% on a year-over-year basis. On average, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. 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%.
NVIDIA Company Profile
(
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.
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