Financial Counselors Inc. Increases Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Financial Counselors Inc. increased its stake in NVIDIA by 0.4%, now holding approximately 1.81 million shares valued at about $196.5 million, making NVIDIA the 4th largest position in its portfolio.
• NVIDIA reported $0.81 EPS for its latest quarter, missing estimates, although revenues rose to $44.06 billion, surpassing expectations with a 69.2% increase year-over-year.
• The company's recent dividend was $0.01 per share, with a 0.0% yield due to its low payout ratio of 1.29%.

Financial Counselors Inc. lifted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,812,934 shares of the computer hardware maker's stock after purchasing an additional 6,330 shares during the quarter. NVIDIA comprises 3.0% of Financial Counselors Inc.'s holdings, making the stock its 4th largest position. Financial Counselors Inc.'s holdings in NVIDIA were worth $196,486,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in NVIDIA in the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC lifted its position in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after buying an additional 48,439,859 shares in the last quarter. Northern Trust Corp raised its position 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. Proficio Capital Partners LLC raised its position in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after buying an additional 23,948,733 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's 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 directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock worth $800,141,003 in the last 90 days. Insiders own 4.17% of the company's stock.

NVIDIA Trading Down 2.3%

NASDAQ NVDA traded down $4.15 on Friday, hitting $173.72. 203,669,565 shares of the stock were exchanged, compared to its average volume of 153,436,048. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The company has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 56.04, a P/E/G ratio of 1.57 and a beta of 2.14. The company's 50-day moving average price is $155.30 and its two-hundred day moving average price is $132.32.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly 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 company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

NVDA has been the subject of several analyst reports. Jefferies Financial Group boosted their target price on NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Raymond James Financial upped their target price on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Oppenheimer upped their price objective on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Citigroup increased their target price on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, TD Cowen upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target 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.