Pictet Asset Management Holding SA Grows Stake in NVIDIA Corporation (NASDAQ:NVDA)

Pictet Asset Management Holding SA boosted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,388,807 shares of the computer hardware maker's stock after acquiring an additional 752,176 shares during the period. NVIDIA accounts for about 2.8% of Pictet Asset Management Holding SA's holdings, making the stock its biggest position. Pictet Asset Management Holding SA owned approximately 0.10% of NVIDIA worth $2,535,106,000 at the end of the most recent reporting period.

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

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This 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 this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,837,440 shares of company stock valued at $889,404,782 over the last 90 days. Company insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NVDA shares. DA Davidson raised their price objective on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Rosenblatt Securities raised their price target on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. UBS Group reissued a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Bank of America boosted their target price on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Finally, Morgan Stanley boosted their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $186.33.

NVIDIA Stock Up 0.2%

NVDA stock opened at $182.02 on Friday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company's 50 day moving average is $163.18 and its 200 day moving average is $135.00. The stock has a market cap of $4.44 trillion, a price-to-earnings ratio of 58.72, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48.

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 company 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%. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. Sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA 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.

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