BDF Gestion lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 599,324 shares of the computer hardware maker's stock after selling 68,455 shares during the quarter. NVIDIA comprises approximately 7.1% of BDF Gestion's investment portfolio, making the stock its 3rd biggest holding. BDF Gestion's holdings in NVIDIA were worth $64,955,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. M.E. Allison & CO. Inc. lifted its position in shares of NVIDIA by 3.9% in the first quarter. M.E. Allison & CO. Inc. now owns 6,503 shares of the computer hardware maker's stock worth $705,000 after purchasing an additional 245 shares in the last quarter. Cornerstone Wealth Advisors Inc. increased its position in shares of NVIDIA by 1.8% in the first quarter. Cornerstone Wealth Advisors Inc. now owns 5,657 shares of the computer hardware maker's stock valued at $613,000 after acquiring an additional 100 shares during the last quarter. Northstar Group Inc. raised its holdings in NVIDIA by 4.9% during the first quarter. Northstar Group Inc. now owns 10,671 shares of the computer hardware maker's stock worth $1,157,000 after acquiring an additional 501 shares in the last quarter. Sprinkle Financial Consultants LLC bought a new position in shares of NVIDIA in the 1st quarter valued at about $361,000. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in NVIDIA by 62.0% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 19,888 shares of the computer hardware maker's stock worth $2,155,000 after buying an additional 7,608 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the 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 transaction, the director directly 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 have sold 4,044,919 shares of company stock worth $584,414,209 over the last 90 days. 4.17% of the stock is currently owned by corporate insiders.
NVIDIA Price Performance
NVDA stock opened at $157.25 on Thursday. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $158.71. The stock has a market capitalization of $3.84 trillion, a PE ratio of 50.73, a price-to-earnings-growth ratio of 1.36 and a beta of 2.13. The company's 50-day moving average is $134.36 and its 200-day moving average is $127.45. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The company 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 dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.29%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on NVDA. Rosenblatt Securities increased their price target on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Citigroup reiterated a "buy" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. DA Davidson upped their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Finally, Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $175.78.
Check Out Our Latest Report on NVDA
NVIDIA Company Profile
(
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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