Victory Capital Management Inc. Sells 494,425 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Victory Capital Management Inc. lessened its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,440,210 shares of the computer hardware maker's stock after selling 494,425 shares during the period. NVIDIA makes up approximately 2.2% of Victory Capital Management Inc.'s portfolio, making the stock its 2nd largest position. Victory Capital Management Inc. owned 0.08% of NVIDIA worth $2,106,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after acquiring an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of NVIDIA by 1.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock worth $315,100,000 after acquiring an additional 22,929 shares during the period. Highview Capital Management LLC DE increased its stake in shares of NVIDIA by 6.7% during the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after acquiring an additional 3,653 shares during the period. Hudson Value Partners LLC increased its stake in shares of NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock worth $6,805,000 after acquiring an additional 11,900 shares during the period. Finally, Voisard Asset Management Group Inc. increased its stake in shares of NVIDIA by 1.6% during the fourth quarter. Voisard Asset Management Group Inc. now owns 6,325 shares of the computer hardware maker's stock worth $849,000 after acquiring an additional 101 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Down 1.1%

NASDAQ NVDA traded down $2.00 during trading hours on Friday, reaching $180.03. 108,034,031 shares of the company traded hands, compared to its average volume of 241,913,031. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. 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 capitalization of $4.39 trillion, a PE ratio of 58.05, a PEG ratio of 1.60 and a beta of 2.14. The company has a 50 day moving average of $163.18 and a two-hundred day moving average of $135.00.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the company earned $0.61 earnings per share. The company's revenue was up 69.2% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,837,440 shares of company stock valued at $889,404,782. Corporate insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVDA. The Goldman Sachs Group began coverage on shares of NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective on the stock. Raymond James Financial boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Oppenheimer boosted their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, Benchmark reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $186.33.

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.