Sentry Investment Management LLC Lowers Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Sentry Investment Management LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 24.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,187 shares of the computer hardware maker's stock after selling 23,399 shares during the period. NVIDIA comprises about 4.8% of Sentry Investment Management LLC's investment portfolio, making the stock its 4th biggest holding. Sentry Investment Management LLC's holdings in NVIDIA were worth $7,715,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Hickory Point Bank & Trust bought a new stake in NVIDIA during the fourth quarter valued at approximately $2,272,000. BTC Capital Management Inc. boosted its stake in shares of NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock worth $35,785,000 after acquiring an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP boosted its stake in shares of NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after acquiring an additional 9,944 shares during the last quarter. Waddell & Associates LLC grew its position in shares of NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock valued at $3,240,000 after acquiring an additional 297 shares during the period. Finally, Strategy Asset Managers LLC increased its stake in shares of NVIDIA by 0.8% in the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock worth $7,024,000 after purchasing an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVDA. Citigroup reiterated a "buy" rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Needham & Company LLC reiterated a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Truist Financial raised their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average target price of $172.24.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares in the company, valued at approximately $27,104,752.08. The trade was a 19.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,560,845 shares of company stock valued at $360,351,849. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $141.97 on Friday. The firm has a fifty day simple moving average of $122.77 and a two-hundred day simple moving average of $126.44. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.46 trillion, a P/E ratio of 55.87, a PEG ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. On average, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis 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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.