Penserra Capital Management LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,908 shares of the computer hardware maker's stock after selling 29,254 shares during the period. Penserra Capital Management LLC's holdings in NVIDIA were worth $18,846,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Wealth Group Ltd. grew its stake in NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after buying an additional 100 shares during the last quarter. Tallon Kerry Patrick bought a new position in NVIDIA during the 4th quarter worth $972,000. Brighton Jones LLC grew its stake in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after buying an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock worth $315,100,000 after buying an additional 22,929 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its stake in NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after buying an additional 3,653 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently commented on NVDA shares. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Piper Sandler reissued an "overweight" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. The Goldman Sachs Group initiated coverage on NVIDIA in a research note on Thursday, July 10th. They issued a "buy" rating and a $185.00 price target for the company. Finally, DA Davidson increased their price target on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $182.03.
Read Our Latest Stock Analysis on NVIDIA
NVIDIA Trading Down 2.3%
NVDA stock traded down $4.15 during mid-day trading on Friday, reaching $173.72. 203,669,565 shares of the stock traded hands, compared to its average volume of 153,436,048. 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 Corporation has a 52-week low of $86.62 and a 52-week high of $183.30. The company has a market cap of $4.24 trillion, a P/E ratio of 56.04, a P/E/G ratio of 1.57 and a beta of 2.14. The stock's fifty day moving average is $155.30 and its 200-day moving average is $132.32.
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 business had revenue of $44.06 billion during 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 revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.
Insider Buying and Selling
In related news, CFO Colette Kress sold 27,650 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the sale, the director directly owned 1,729,478 shares of the company's stock, valued at approximately $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,339,800 shares of company stock valued at $800,141,003. Corporate insiders own 4.17% of the company's stock.
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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