NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,670,553 shares of the computer hardware maker's stock after selling 4,749 shares during the period. NVIDIA makes up 2.2% of Congress Asset Management Co.'s holdings, making the stock its 2nd biggest holding. Congress Asset Management Co.'s holdings in NVIDIA were worth $289,435,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NVDA. FMR LLC grew its holdings in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its holdings in NVIDIA by 1.7% during 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 in the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 in the last quarter. Norges Bank acquired a new position in NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp grew its holdings in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Truist Financial upped their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 29th. DA Davidson upped their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $173.05.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director now owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,540,845 shares of company stock worth $357,983,449 in the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Stock Up 0.9%

Shares of NVIDIA stock opened at $145.48 on Thursday. The company has a market cap of $3.55 trillion, a P/E ratio of 46.93, a PEG ratio of 1.27 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a one year low of $86.62 and a one year high of $153.13. The firm has a fifty day moving average of $124.96 and a two-hundred day moving average of $126.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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). The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. On average, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.29%.

NVIDIA Company 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.

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