First Citizens Bank & Trust Co. lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 508,924 shares of the computer hardware maker's stock after buying an additional 41,277 shares during the period. NVIDIA makes up about 0.9% of First Citizens Bank & Trust Co.'s investment portfolio, making the stock its 16th largest holding. First Citizens Bank & Trust Co.'s holdings in NVIDIA were worth $55,157,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Sherman Asset Management Inc. raised its stake in NVIDIA by 10.8% during the 1st quarter. Sherman Asset Management Inc. now owns 7,701 shares of the computer hardware maker's stock valued at $835,000 after acquiring an additional 748 shares in the last quarter. Priebe Wealth Holdings LLC raised its stake in NVIDIA by 8.3% during the 1st quarter. Priebe Wealth Holdings LLC now owns 7,032 shares of the computer hardware maker's stock valued at $762,000 after acquiring an additional 541 shares in the last quarter. 25 LLC raised its stake in NVIDIA by 9.2% during the 1st quarter. 25 LLC now owns 8,304 shares of the computer hardware maker's stock valued at $900,000 after acquiring an additional 703 shares in the last quarter. Capital Investment Advisors LLC raised its stake in NVIDIA by 8.3% during the 1st quarter. Capital Investment Advisors LLC now owns 401,792 shares of the computer hardware maker's stock valued at $43,546,000 after acquiring an additional 30,650 shares in the last quarter. Finally, PFW Advisors LLC raised its stake in NVIDIA by 1.7% during the 1st quarter. PFW Advisors LLC now owns 25,406 shares of the computer hardware maker's stock valued at $2,754,000 after acquiring an additional 428 shares in the last quarter. 65.27% of the stock is owned by institutional investors.
NVIDIA Trading Down 1.1%
Shares of NASDAQ NVDA opened at $143.83 on Friday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $153.13. The firm has a market capitalization of $3.51 trillion, a PE ratio of 46.40, a PEG ratio of 1.27 and a beta of 2.12. 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 business has a 50-day moving average price of $126.37 and a two-hundred day moving average price of $126.56.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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 return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The company's revenue was up 69.2% compared to the same quarter last year. As a group, analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's payout ratio is presently 1.29%.
Insiders Place Their Bets
In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the transaction, the director now owns 201,044 shares in the company, valued at $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. 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 business'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 completion of the transaction, the director now owns 26,671,360 shares in the company, 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 ninety days, insiders sold 2,469,685 shares of company stock worth $349,669,962. 4.17% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
NVDA has been the topic of several recent analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $175.00 target price on shares of NVIDIA in a research note on Monday, June 16th. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Mizuho lifted their target price on NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. TD Cowen boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, William Blair reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $173.05.
View Our Latest Stock Report on NVIDIA
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
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