Voya Investment Management LLC Trims Stock Position in NVIDIA Corporation $NVDA

Key Points

• Voya Investment Management LLC reduced its stake in NVIDIA by 1.1% in Q1 2023, currently holding about 33.5 million shares, which represent 4.0% of its total holdings.
• NVIDIA's stock opened at $177.75, with a market cap of $4.32 trillion, and reported significant revenue growth, posting $46.74 billion for the quarter, up 55.6% year-over-year.
• The company recently announced a quarterly dividend of $0.01 per share, set to be paid on October 2nd, which indicates a low annual yield of 0.0%, underlining its focus on growth over dividend payouts.

Voya Investment Management LLC lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 33,548,321 shares of the computer hardware maker's stock after selling 357,074 shares during the quarter. NVIDIA accounts for 4.0% of Voya Investment Management LLC's holdings, making the stock its biggest holding. Voya Investment Management LLC owned approximately 0.14% of NVIDIA worth $3,634,321,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of NVDA. Kathleen S. Wright Associates Inc. increased its position in shares of NVIDIA by 169.3% during the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after purchasing an additional 254 shares during the last quarter. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the 1st quarter worth $51,000. Bruce G. Allen Investments LLC lifted its holdings in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the period. Finally, Campbell Capital Management Inc. lifted its holdings in shares of NVIDIA by 5,900.0% in the 1st quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker's stock worth $65,000 after buying an additional 590 shares during the period. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $177.75 on Tuesday. The company has a market cap of $4.32 trillion, a PE ratio of 50.64, a price-to-earnings-growth ratio of 1.29 and a beta of 2.10. The stock's 50 day simple moving average is $174.81 and its 200-day simple moving average is $142.18. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60.

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

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is presently 1.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Loop Capital upped their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Benchmark increased their price objective on NVIDIA from $190.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Oppenheimer reissued an "outperform" rating and issued a $225.00 price objective (up from $200.00) on shares of NVIDIA in a report on Thursday, August 28th. TD Cowen raised their target price on NVIDIA from $140.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, August 19th. Finally, Mizuho raised their target price on NVIDIA from $192.00 to $205.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $207.83.

Insider Buying and Selling

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 608,248 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $145.26, for a total value of $88,354,104.48. Following the sale, the director directly owned 8,247,600 shares of the company's stock, valued at approximately $1,198,046,376. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,405,552 shares of company stock worth $721,811,877. 4.17% of the stock is owned by corporate insiders.

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 Corporation (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.