Impax Asset Management Group plc Sells 1,106,232 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Impax Asset Management Group plc reduced its holdings in NVIDIA Corporation by 20.8% in the first quarter, owning 4,220,817 shares after selling 1,106,232 shares.
• Several analysts have upgraded their price targets for NVIDIA, with Bank of America raising it from $180.00 to $220.00 and Loop Capital from $175.00 to $250.00, reflecting optimistic market sentiment.
• Insiders recently sold over 5.26 million shares of NVIDIA stock, valued at approximately $786.7 million, indicating significant trading activity among company directors.

Impax Asset Management Group plc decreased its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 20.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,220,817 shares of the computer hardware maker's stock after selling 1,106,232 shares during the quarter. NVIDIA makes up 2.7% of Impax Asset Management Group plc's holdings, making the stock its 4th largest position. Impax Asset Management Group plc's holdings in NVIDIA were worth $456,432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NVDA. Tacita Capital Inc purchased a new position in NVIDIA in the fourth quarter valued at $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the fourth quarter valued at $38,000. Copia Wealth Management purchased a new position in NVIDIA in the fourth quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of NVIDIA in the 1st quarter valued at $51,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Down 2.3%

NVDA traded down $4.15 during trading on Friday, reaching $173.72. The company had a trading volume of 203,669,565 shares, compared to its average volume of 248,821,531. 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 Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The business's fifty day moving average price is $154.45 and its 200 day moving average price is $132.03. The company has a market cap of $4.24 trillion, a P/E ratio of 56.04, a PEG ratio of 1.58 and a beta of 2.13.

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 business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction 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 in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,339,800 shares of company stock valued at $800,141,003 in the last ninety days. Company insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NVDA shares. Benchmark restated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Rosenblatt Securities raised their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. Citigroup raised their price objective on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus price target of $182.03.

About NVIDIA

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.