Argus Investors Counsel Inc. Reduces Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Argus Investors Counsel Inc. lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 15.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,989 shares of the computer hardware maker's stock after selling 5,742 shares during the quarter. NVIDIA comprises 2.6% of Argus Investors Counsel Inc.'s portfolio, making the stock its 7th largest holding. Argus Investors Counsel Inc.'s holdings in NVIDIA were worth $3,359,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its position in NVIDIA by 0.7% in the 4th 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 acquiring an additional 3,721,331 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp grew its holdings in shares of NVIDIA by 15.8% during 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 purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NVDA shares. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Truist Financial upped their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $175.78.

NVIDIA Price Performance

NVDA traded up $3.45 during trading hours on Wednesday, hitting $156.75. The company's stock had a trading volume of 121,526,808 shares, compared to its average volume of 268,046,657. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $158.71. The stock has a market cap of $3.82 trillion, a price-to-earnings ratio of 50.63, a P/E/G ratio of 1.40 and a beta of 2.13. The business's 50-day moving average price is $133.27 and its 200-day moving average price is $127.24. 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 announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the business posted $0.61 EPS. The firm's revenue was up 69.2% on a year-over-year basis. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In other NVIDIA news, Director A Brooke Seawell sold 51,740 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total value of $8,000,038.80. Following the completion of the sale, the director owned 1,576,709 shares of the company's stock, valued at $243,790,745.58. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock worth $584,414,209 over the last three months. 4.17% of the stock is owned by insiders.

NVIDIA Company Profile

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.