Chevy Chase Trust Holdings LLC Lowers Stake in NVIDIA Corporation (NASDAQ:NVDA)

Chevy Chase Trust Holdings LLC decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,229,269 shares of the computer hardware maker's stock after selling 266,562 shares during the quarter. NVIDIA accounts for approximately 5.6% of Chevy Chase Trust Holdings LLC's investment portfolio, making the stock its 2nd largest position. Chevy Chase Trust Holdings LLC owned 0.07% of NVIDIA worth $1,758,928,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. FMR LLC increased its stake in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its stake in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. Institutional investors own 65.27% of the company's stock.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock worth $660,253,045 over the last quarter. Company insiders own 4.17% of the company's stock.

NVIDIA Trading Up 4.0%

NVIDIA stock traded up $6.63 during midday trading on Tuesday, reaching $170.70. The stock had a trading volume of 229,902,790 shares, compared to its average volume of 265,385,111. The firm's fifty day simple moving average is $142.53 and its two-hundred day simple moving average is $128.80. The firm has a market cap of $4.17 trillion, a price-to-earnings ratio of 55.06, a PEG ratio of 1.46 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $172.79. 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 issued its 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%. The company's quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Bank of America increased their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Piper Sandler reissued an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Finally, Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.72.

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.