NVIDIA Corporation (NASDAQ:NVDA) Stake Decreased by Covea Finance

Covea Finance decreased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 25.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 534,741 shares of the computer hardware maker's stock after selling 186,976 shares during the period. NVIDIA makes up approximately 2.6% of Covea Finance's investment portfolio, making the stock its 9th largest holding. Covea Finance's holdings in NVIDIA were worth $57,955,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NVDA. GSB Wealth Management LLC boosted its position in NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after buying an additional 1,043 shares during the last quarter. Variant Private Wealth LLC boosted its position in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after buying an additional 3,206 shares during the last quarter. Financial Perspectives Inc boosted its position in NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after buying an additional 1,265 shares during the last quarter. Hickory Point Bank & Trust purchased a new stake in NVIDIA in the fourth quarter valued at approximately $2,272,000. Finally, Pegasus Asset Management Inc. boosted its position in NVIDIA by 0.3% in the first quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock valued at $8,318,000 after buying an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Trading Up 0.5%

NVIDIA stock traded up $0.82 during midday trading on Friday, reaching $164.92. 193,205,730 shares of the stock traded hands, compared to its average volume of 266,042,149. The company has a 50-day simple moving average of $141.53 and a two-hundred day simple moving average of $128.77. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $167.89. The firm has a market cap of $4.02 trillion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.46 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. Research 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. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Activity

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total transaction of $12,233,250.00. Following the sale, the chief executive officer owned 74,873,225 shares of the company's stock, valued at approximately $12,212,571,729.75. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 49,131 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $162.83, for a total value of $8,000,000.73. Following the sale, the director directly owned 1,826,382 shares in the company, valued at $297,389,781.06. This trade represents a 2.62% 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 in the last three months. Corporate insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVDA. Bank of America boosted their price target on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Arete Research raised NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Finally, Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $177.03.

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.