Tobam Has $3.66 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Tobam lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,794 shares of the computer hardware maker's stock after selling 3,999 shares during the quarter. NVIDIA comprises 1.6% of Tobam's portfolio, making the stock its 19th largest position. Tobam's holdings in NVIDIA were worth $3,663,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NVDA. Hickory Point Bank & Trust acquired a new stake in NVIDIA during the 4th quarter valued at approximately $2,272,000. BTC Capital Management Inc. grew its stake in NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock valued at $35,785,000 after purchasing an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP grew its stake in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after purchasing an additional 9,944 shares in the last quarter. Waddell & Associates LLC grew its stake in 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 purchasing an additional 297 shares in the last quarter. Finally, Strategy Asset Managers LLC grew its stake in NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock valued at $7,024,000 after purchasing an additional 405 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVDA. Morgan Stanley restated 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. DA Davidson increased their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a report on Wednesday, March 19th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Finally, Mizuho increased their target price on NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $175.78.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded up $2.73 during mid-day trading on Friday, reaching $157.75. The company had a trading volume of 258,593,751 shares, compared to its average volume of 269,195,806. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.85 trillion, a PE ratio of 50.89, a P/E/G ratio of 1.40 and a beta of 2.12. The company has a 50-day moving average price of $130.96 and a two-hundred day moving average price of $126.97. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $158.71.

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 company had revenue of $44.06 billion during 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%. The business's revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insider Buying and Selling

In related news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction on Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the transaction, the director now directly owns 201,044 shares in the company, valued at $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 available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,792,267 shares of company stock worth $544,823,117 in the last three months. 4.17% of the stock is currently owned by insiders.

NVIDIA 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.