Geneva Partners LLC lessened its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,379 shares of the computer hardware maker's stock after selling 2,508 shares during the period. NVIDIA makes up about 6.6% of Geneva Partners LLC's portfolio, making the stock its 2nd largest holding. Geneva Partners LLC's holdings in NVIDIA were worth $12,830,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in shares of NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its position in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new stake in NVIDIA in the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp grew its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Institutional investors own 65.27% of the company's stock.
Insider Activity at NVIDIA
In other news, CFO Colette Kress sold 20,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.88, for a total transaction of $3,417,600.00. Following the sale, the chief financial officer owned 163,060 shares in the company, valued at $27,863,692.80. This trade represents a 10.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the completion of the transaction, the chief executive officer directly owned 73,748,225 shares of the company's stock, valued at $13,181,757,736.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,339,800 shares of company stock worth $800,141,003. Company insiders own 4.17% of the company's stock.
Analyst Ratings Changes
NVDA has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Mizuho set a $192.00 target price on shares of NVIDIA and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Oppenheimer boosted their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $182.03.
Check Out Our Latest Report on NVDA
NVIDIA Stock Performance
Shares of NVDA traded up $6.28 on Monday, reaching $180.00. The company's stock had a trading volume of 147,497,317 shares, compared to its average volume of 248,133,797. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.30. The stock has a market capitalization of $4.39 trillion, a P/E ratio of 58.06, a PEG ratio of 1.53 and a beta of 2.14. The stock's 50 day simple moving average is $155.30 and its two-hundred day simple moving average is $132.28. 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 earnings results 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 EPS. NVIDIA's revenue was up 69.2% on a year-over-year basis. Research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The business also recently disclosed 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. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio (DPR) 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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