Zweig DiMenna Associates LLC Has $16.99 Million Stock Position in NVIDIA Corporation $NVDA

Zweig DiMenna Associates LLC trimmed its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 66.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,740 shares of the computer hardware maker's stock after selling 313,805 shares during the period. NVIDIA makes up approximately 2.7% of Zweig DiMenna Associates LLC's holdings, making the stock its 10th biggest holding. Zweig DiMenna Associates LLC's holdings in NVIDIA were worth $16,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Astoria Portfolio Advisors LLC. increased its holdings in shares of NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after acquiring an additional 864 shares in the last quarter. Centerpoint Advisory Group raised its holdings in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares during the period. GSB Wealth Management LLC raised its holdings in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC boosted its stake in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares during the period. Finally, Financial Perspectives Inc lifted its position in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NVDA shares. Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Evercore ISI increased their price target on shares of NVIDIA from $190.00 to $214.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, August 19th. Robert W. Baird upped their price objective on NVIDIA from $195.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $194.31.

NVIDIA Stock Performance

Shares of NVIDIA stock traded up $0.15 on Wednesday, reaching $181.92. 131,917,903 shares of the company traded hands, compared to its average volume of 238,362,547. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $4.44 trillion, a PE ratio of 58.68, a PEG ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. The company has a 50 day moving average of $168.81 and a 200 day moving average of $138.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period last year, the company earned $0.61 earnings per share. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. Equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the firm'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 sale, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,912,440 shares of company stock valued at $902,886,782 in the last quarter. 4.17% of the stock is currently owned by company insiders.

NVIDIA Company Profile

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.