NVIDIA Corporation (NASDAQ:NVDA) Stock Holdings Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,046,753 shares of the computer hardware maker's stock after selling 214,759 shares during the quarter. NVIDIA comprises 2.1% of Principal Financial Group Inc.'s investment portfolio, making the stock its 3rd biggest position. Principal Financial Group Inc. owned 0.14% of NVIDIA worth $3,798,367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tacita Capital Inc acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the 4th quarter worth approximately $38,000. Copia Wealth Management bought a new position in shares of NVIDIA during the 4th quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of NVIDIA during the 1st quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the completion of the transaction, the chief executive officer owned 73,748,225 shares in the company, valued at $13,181,757,736.50. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the transaction, the chief financial officer owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,339,800 shares of company stock worth $800,141,003. 4.17% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NVDA traded down $1.80 during midday trading on Friday, reaching $176.07. The company had a trading volume of 105,302,895 shares, compared to its average volume of 248,096,203. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $154.45 and a two-hundred day moving average of $132.03. The company has a market cap of $4.30 trillion, a P/E ratio of 56.78, a P/E/G ratio of 1.58 and a beta of 2.13. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30.

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 analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. As a group, equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 (DPR) is currently 1.29%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NVDA shares. Oppenheimer increased their price target on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. TD Cowen increased their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. DA Davidson increased their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Finally, Loop Capital increased their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. One investment 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 given a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

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.