Procyon Advisors LLC Raises Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Procyon Advisors LLC increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 370,414 shares of the computer hardware maker's stock after buying an additional 44,158 shares during the quarter. NVIDIA accounts for about 2.4% of Procyon Advisors LLC's portfolio, making the stock its 4th biggest holding. Procyon Advisors LLC's holdings in NVIDIA were worth $40,145,000 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. FMR LLC boosted its position in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the last quarter. Norges Bank bought a new position in shares of NVIDIA in the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp increased its holdings in NVIDIA by 15.8% during 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 buying an additional 36,266,817 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NVDA shares. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Mizuho upped their price objective on NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Piper Sandler reiterated an "overweight" rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. William Blair reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, Rosenblatt Securities raised their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $173.05.

Insider Activity

In related news, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares of the company's stock, valued at $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,560,845 shares of company stock worth $360,351,849. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

NVDA stock opened at $144.12 on Wednesday. The company's 50-day moving average price is $124.34 and its two-hundred day moving average price is $126.49. The firm has a market cap of $3.52 trillion, a P/E ratio of 46.49, a P/E/G ratio of 1.28 and a beta of 2.12. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The business's revenue was up 69.2% on a year-over-year basis. On average, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.29%.

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.

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