Sunbelt Securities Inc. trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 343,653 shares of the computer hardware maker's stock after selling 7,183 shares during the quarter. NVIDIA accounts for approximately 3.3% of Sunbelt Securities Inc.'s portfolio, making the stock its 2nd largest holding. Sunbelt Securities Inc.'s holdings in NVIDIA were worth $37,245,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in NVIDIA during the fourth quarter valued at about $43,515,504,000. GAMMA Investing LLC increased its position in shares of NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the last quarter. Northern Trust Corp increased its position in shares of 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 last quarter. Proficio Capital Partners LLC boosted its stake in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after buying an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in NVIDIA by 204.6% in the first 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 buying an additional 23,948,733 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Stock Performance
Shares of NVDA stock opened at $172.41 on Monday. The company has a market cap of $4.21 trillion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. The stock has a 50 day simple moving average of $146.99 and a 200-day simple moving average of $129.81. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.25. 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 released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the previous year, the business earned $0.61 earnings per share. The business's revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on NVDA shares. TD Cowen increased their price objective on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Barclays raised their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Raymond James Financial lifted 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. Finally, Citigroup raised their target price on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average price target of $181.22.
Check Out Our Latest Analysis on NVDA
Insider Buying and Selling at NVIDIA
In other news, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction on 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 transaction, the director directly owned 1,729,478 shares in the company, valued at $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is owned by insiders.
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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