GAM Holding AG Grows Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

GAM Holding AG lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 497,391 shares of the computer hardware maker's stock after buying an additional 32,518 shares during the quarter. NVIDIA makes up 4.2% of GAM Holding AG's investment portfolio, making the stock its 2nd largest position. GAM Holding AG's holdings in NVIDIA were worth $53,907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Stonegate Investment Group LLC grew its holdings in shares of NVIDIA by 1.1% during the first quarter. Stonegate Investment Group LLC now owns 153,529 shares of the computer hardware maker's stock worth $16,639,000 after buying an additional 1,685 shares in the last quarter. Retirement Planning Group LLC NY boosted its position in shares of NVIDIA by 52.1% in the first quarter. Retirement Planning Group LLC NY now owns 4,512 shares of the computer hardware maker's stock worth $489,000 after acquiring an additional 1,546 shares during the last quarter. Perfromance Wealth Partners LLC boosted its position in shares of NVIDIA by 2.8% in the first quarter. Perfromance Wealth Partners LLC now owns 1,350,341 shares of the computer hardware maker's stock worth $146,350,000 after acquiring an additional 36,468 shares during the last quarter. Mayport LLC boosted its position in shares of NVIDIA by 4.5% in the first quarter. Mayport LLC now owns 20,355 shares of the computer hardware maker's stock worth $2,206,000 after acquiring an additional 880 shares during the last quarter. Finally, Denver Wealth Management Inc. boosted its position in shares of NVIDIA by 431.3% in the first quarter. Denver Wealth Management Inc. now owns 14,207 shares of the computer hardware maker's stock worth $1,540,000 after acquiring an additional 11,533 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Loop Capital raised their target price on shares of NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Raymond James Financial lifted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and an average price target of $177.03.

Insider Buying and Selling

In other news, Director A Brooke Seawell sold 50,514 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $158.37, for a total value of $7,999,902.18. Following the completion of the sale, the director directly owned 1,974,784 shares of the company's stock, valued at approximately $312,746,542.08. This represents a 2.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $158.35, for a total transaction of $11,876,250.00. Following the completion of the sale, the chief executive officer directly owned 75,023,225 shares of the company's stock, valued at approximately $11,879,927,678.75. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,296,844 shares of company stock valued at $624,019,677. Company insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

Shares of NVDA traded up $1.22 during midday trading on Thursday, hitting $164.10. 167,093,998 shares of the stock traded hands, compared to its average volume of 266,635,224. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $164.70. The firm has a market capitalization of $4.00 trillion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 1.42 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The business's 50 day moving average price is $139.47 and its two-hundred day moving average price is $128.43.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company earned $0.61 EPS. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

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.