RedJay Asset Management Inc. acquired a new position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 74,500 shares of the computer hardware maker's stock, valued at approximately $8,074,000. NVIDIA accounts for about 4.4% of RedJay Asset Management Inc.'s portfolio, making the stock its 5th largest holding.
A number of other large investors have also modified their holdings of the company. FMR LLC raised its position in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank acquired a new position in shares of NVIDIA during the 4th quarter worth about $43,515,504,000. Finally, Northern Trust Corp raised its position in shares of NVIDIA by 15.8% during the 4th 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. Institutional investors and hedge funds own 65.27% of the company's stock.
Insiders Place Their Bets
In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $175.22, for a total value of $13,141,500.00. Following the sale, the chief executive officer directly owned 73,898,225 shares in the company, valued at approximately $12,948,446,984.50. This trade represents a 0.10% 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, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,264,800 shares of company stock worth $786,735,503 in the last ninety days. 4.17% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on NVDA shares. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Jefferies Financial Group upped their price objective on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Finally, Rosenblatt Securities upped their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $181.22.
View Our Latest Stock Analysis on NVIDIA
NVIDIA Stock Up 1.9%
NVIDIA stock traded up $3.25 during mid-day trading on Monday, reaching $176.75. 139,407,827 shares of the company's stock were exchanged, compared to its average volume of 155,064,304. The company has a market cap of $4.31 trillion, a P/E ratio of 57.02, a P/E/G ratio of 1.53 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $177.00. 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 company has a fifty day moving average of $151.77 and a 200-day moving average of $131.09.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. Sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The firm 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. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.
NVIDIA Profile
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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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