NVIDIA Corporation (NASDAQ:NVDA) is Sky Investment Group LLC's 2nd Largest Position

Sky Investment Group LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 290,846 shares of the computer hardware maker's stock after acquiring an additional 1,885 shares during the period. NVIDIA makes up 5.8% of Sky Investment Group LLC's holdings, making the stock its 2nd largest position. Sky Investment Group LLC's holdings in NVIDIA were worth $31,522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tacita Capital Inc bought a new stake in shares of NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA in the 4th quarter valued at $50,000. Bruce G. Allen Investments LLC increased its position in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of NVIDIA in the 4th quarter valued at $54,000. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVDA stock traded up $2.73 during trading hours on Friday, reaching $157.75. The company's stock had a trading volume of 258,593,751 shares, compared to its average volume of 269,195,806. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $158.71. The firm's 50 day simple moving average is $130.96 and its 200-day simple moving average is $126.97. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.85 trillion, a price-to-earnings ratio of 50.89, a PEG ratio of 1.40 and a beta of 2.12.

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 (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the business posted $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 currently 1.29%.

Insider Buying and Selling at NVIDIA

In related news, Director Robert K. Burgess sold 50,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president now directly owns 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,792,267 shares of company stock worth $544,823,117 over the last quarter. Corporate insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Benchmark restated a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Barclays upped their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. TD Cowen increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, HSBC downgraded shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $175.78.

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.