Washington Trust Advisors Inc. Acquires 1,639 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Washington Trust Advisors Inc. raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 189,402 shares of the computer hardware maker's stock after acquiring an additional 1,639 shares during the period. NVIDIA makes up 1.8% of Washington Trust Advisors Inc.'s investment portfolio, making the stock its 16th biggest holding. Washington Trust Advisors Inc.'s holdings in NVIDIA were worth $20,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. GAMMA Investing LLC boosted its holdings in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NVDA shares. The Goldman Sachs Group started coverage on NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective on the stock. Benchmark reissued a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Barclays lifted their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Bank of America lifted their price target on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Finally, HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $181.22.

NVIDIA Stock Performance

Shares of NVDA traded down $0.24 during midday trading on Friday, reaching $173.50. The stock had a trading volume of 121,814,931 shares, compared to its average volume of 162,110,176. The firm has a 50 day simple moving average of $150.95 and a 200-day simple moving average of $130.86. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.72. The firm has a market cap of $4.23 trillion, a PE ratio of 55.97, a P/E/G ratio of 1.53 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the business earned $0.61 EPS. The business's revenue was up 69.2% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued 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 1.29%.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the transaction, the director owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,114,800 shares of company stock valued at $760,553,003. Company insiders own 4.17% of the company's stock.

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.