Sumitomo Mitsui Trust Group Inc. Buys 167,461 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,783,100 shares of the computer hardware maker's stock after purchasing an additional 167,461 shares during the period. NVIDIA makes up approximately 4.9% of Sumitomo Mitsui Trust Group Inc.'s portfolio, making the stock its 3rd biggest holding. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of NVIDIA worth $6,912,812,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NVDA. Centerpoint Advisory Group boosted its stake in NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after purchasing an additional 943 shares during the period. GSB Wealth Management LLC grew its position in NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares in the last quarter. Variant Private Wealth LLC raised its stake in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Financial Perspectives Inc increased its holdings in NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after buying an additional 1,265 shares during the period. Finally, Hickory Point Bank & Trust acquired a new stake in shares of NVIDIA during the 4th quarter worth about $2,272,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Down 0.6%

Shares of NVIDIA stock opened at $171.38 on Tuesday. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $174.25. The business has a 50-day moving average of $146.99 and a two-hundred day moving average of $129.81. The company has a market capitalization of $4.18 trillion, a P/E ratio of 55.28, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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 firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. As a group, equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

Several research analysts have commented on NVDA shares. Barclays boosted their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. TD Cowen increased their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and a consensus price target of $181.22.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.88, for a total transaction of $3,417,600.00. Following the completion of the transaction, the chief financial officer directly owned 163,060 shares of the company's stock, valued at $27,863,692.80. This represents a 10.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares in the company, valued at $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,964,800 shares of company stock valued at $734,906,003 over the last three months. Corporate insiders own 4.17% of the company's stock.

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.

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