Border to Coast Pensions Partnership Ltd Grows Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Border to Coast Pensions Partnership Ltd boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,422,011 shares of the computer hardware maker's stock after purchasing an additional 116,974 shares during the quarter. NVIDIA makes up approximately 5.4% of Border to Coast Pensions Partnership Ltd's holdings, making the stock its 4th largest position. Border to Coast Pensions Partnership Ltd's holdings in NVIDIA were worth $262,498,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy CG LLC raised its position in shares of NVIDIA by 7.6% during the first quarter. Legacy CG LLC now owns 48,236 shares of the computer hardware maker's stock worth $5,228,000 after purchasing an additional 3,412 shares during the period. Canvas Wealth Advisors LLC raised its position in NVIDIA by 52.2% during the first quarter. Canvas Wealth Advisors LLC now owns 120,365 shares of the computer hardware maker's stock valued at $11,903,000 after buying an additional 41,298 shares during the period. Bartlett & CO. Wealth Management LLC raised its position in NVIDIA by 22.9% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 1,022,393 shares of the computer hardware maker's stock valued at $110,817,000 after buying an additional 190,371 shares during the period. Illinois Municipal Retirement Fund raised its position in NVIDIA by 0.3% during the first quarter. Illinois Municipal Retirement Fund now owns 1,514,006 shares of the computer hardware maker's stock valued at $164,088,000 after buying an additional 4,757 shares during the period. Finally, Old North State Wealth Management LLC raised its position in NVIDIA by 8.8% during the first quarter. Old North State Wealth Management LLC now owns 30,063 shares of the computer hardware maker's stock valued at $3,259,000 after buying an additional 2,420 shares during the period. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

NVDA traded down $3.16 on Tuesday, reaching $168.22. The company had a trading volume of 133,105,146 shares, compared to its average volume of 262,895,036. The company has a fifty day moving average of $146.99 and a 200-day moving average of $129.81. The company has a market capitalization of $4.10 trillion, a P/E ratio of 54.21, a PEG ratio of 1.52 and a beta of 2.13. 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 Corporation has a one year low of $86.62 and a one year high of $174.25.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. The company's quarterly revenue was up 69.2% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVDA. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Citigroup increased their price target on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Rosenblatt Securities raised their target price on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Jefferies Financial Group lifted their target price on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Finally, TD Cowen upped their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $181.22.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on 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 sale, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,964,800 shares of company stock valued at $734,906,003 in the last ninety days. 4.17% of the stock is owned by company insiders.

NVIDIA 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.