Chung Wu Investment Group LLC lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 73.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,280 shares of the computer hardware maker's stock after selling 39,963 shares during the quarter. NVIDIA makes up 1.9% of Chung Wu Investment Group LLC's investment portfolio, making the stock its 15th largest holding. Chung Wu Investment Group LLC's holdings in NVIDIA were worth $1,548,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in NVIDIA by 0.7% during 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 purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC raised its holdings in NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its position in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after acquiring an additional 3,721,331 shares during the last quarter. Norges Bank bought a new stake in NVIDIA during the fourth quarter valued at about $43,515,504,000. Finally, Northern Trust Corp grew its position 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 purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
NVDA has been the subject of several research analyst reports. Arete Research raised NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research report on Thursday, April 3rd. Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Barclays increased their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $181.22.
Check Out Our Latest Stock Report on NVDA
Insiders Place Their Bets
In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,964,800 shares of company stock valued at $734,906,003. Insiders own 4.17% of the company's stock.
NVIDIA Trading Down 0.0%
Shares of NVIDIA stock traded down $0.06 during trading on Monday, hitting $172.35. 66,245,441 shares of the company were exchanged, compared to its average volume of 263,186,072. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $4.21 trillion, a P/E ratio of 55.56, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. The firm's fifty day moving average price is $146.99 and its 200 day moving average price is $129.81. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.25.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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 firm 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 firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 annualized dividend and a yield of 0.02%. NVIDIA's dividend payout ratio is presently 1.29%.
About NVIDIA
(
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.
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