Strategic Investment Advisors MI lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,694 shares of the computer hardware maker's stock after selling 3,681 shares during the period. NVIDIA comprises 1.2% of Strategic Investment Advisors MI's investment portfolio, making the stock its 25th largest holding. Strategic Investment Advisors MI's holdings in NVIDIA were worth $11,780,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently bought and sold shares of NVDA. Norges Bank acquired a new stake in shares of NVIDIA in the fourth quarter worth $43,515,504,000. GAMMA Investing LLC raised its position in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp lifted its stake in NVIDIA by 15.8% in 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. Proficio Capital Partners LLC lifted its stake in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after acquiring an additional 23,948,733 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Bank of America upped their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Needham & Company LLC reissued a "buy" rating and set a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Finally, Raymond James Financial increased their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $177.92.
Check Out Our Latest Analysis on NVDA
NVIDIA Price Performance
NASDAQ NVDA opened at $170.70 on Wednesday. The stock has a 50-day simple moving average of $143.67 and a 200 day simple moving average of $129.10. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $172.40. The stock has a market capitalization of $4.17 trillion, a PE ratio of 55.06, a P/E/G ratio of 1.45 and a beta of 2.13. 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 (NASDAQ:NVDA - Get Free Report) last issued its quarterly 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). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $0.61 earnings per share. Research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA's dividend payout ratio is 1.29%.
Insider Activity at NVIDIA
In other news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,767,150 shares of company stock worth $701,030,045 over the last ninety days. 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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