Renaissance Investment Group LLC Raises Stock Holdings in NVIDIA Corporation $NVDA

Key Points

• Renaissance Investment Group LLC increased its position in NVIDIA Corporation by 11.8% in the first quarter, now owning 96,000 shares valued at over $10 million.
• A consensus target price for NVIDIA has been set at $207.69 with many analysts issuing ratings ranging from "Strong Buy" to "Sell."
• NVIDIA recently declared a quarterly dividend of $0.01 per share, reflecting a minimal yield of 0.0% with a low payout ratio of 1.14%.

Renaissance Investment Group LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,000 shares of the computer hardware maker's stock after acquiring an additional 10,147 shares during the period. NVIDIA comprises approximately 2.5% of Renaissance Investment Group LLC's portfolio, making the stock its 16th biggest holding. Renaissance Investment Group LLC's holdings in NVIDIA were worth $10,404,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NVDA. Norges Bank purchased a new position in shares of NVIDIA in the fourth quarter worth $43,515,504,000. GAMMA Investing LLC increased its stake in shares of NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% in 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 period. Assenagon Asset Management S.A. increased its stake in shares of NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after buying an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NVIDIA in the fourth quarter worth $2,987,733,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 3.3%

Shares of NVDA stock traded down $5.99 during mid-day trading on Monday, reaching $174.18. 242,604,296 shares of the company's stock traded hands, compared to its average volume of 170,230,272. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The company has a market cap of $4.23 trillion, a P/E ratio of 49.62, a P/E/G ratio of 1.30 and a beta of 2.10. The company has a quick ratio of 3.60, a current ratio of 4.21 and a debt-to-equity ratio of 0.08. The company's 50-day moving average price is $171.43 and its 200-day moving average price is $139.35.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. The firm had revenue of $46.74 billion during the quarter, compared to analyst estimates of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.NVIDIA's quarterly revenue was up 55.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. NVIDIA has set its Q3 2026 guidance at EPS. On average, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, September 11th. NVIDIA's payout ratio is currently 1.14%.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several analyst reports. BNP Paribas raised shares of NVIDIA to a "hold" rating in a research note on Friday, August 1st. Bank of America lifted their price target on shares of NVIDIA from $220.00 to $235.00 and gave the company a "buy" rating in a report on Thursday. Evercore ISI lifted their price target on shares of NVIDIA from $190.00 to $214.00 and gave the company an "outperform" rating in a 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. Finally, Mizuho lifted their price target on shares of NVIDIA from $192.00 to $205.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three 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 a consensus target price of $207.69.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated Tuesday, June 3rd. The stock was 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 directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,736,604 shares of company stock worth $878,806,839 in the last 90 days. 4.17% of the stock is owned by company insiders.

About NVIDIA

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.