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Foundry Partners LLC boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 8,950 shares of the computer hardware maker’s stock after buying an additional 410 shares during the period. Foundry Partners LLC’s holdings in NVIDIA were worth $970,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of NVDA. Norges Bank purchased a new position in NVIDIA during the fourth quarter valued at $43,515,504,000. GAMMA Investing LLC grew its stake in 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 valued at $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp grew its stake in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of NVIDIA by 204.6% in the 1st 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 buying an additional 23,948,733 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NVIDIA in the 4th quarter worth $2,987,733,000. 65.27% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Seaport Res Ptn raised shares of NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. UBS Group reissued a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Morgan Stanley lifted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Needham & Company LLC lifted their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, Bank of America lifted their price target on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $186.33.
View Our Latest Stock Analysis on NVDA
Insiders Place Their Bets
In other NVIDIA news, CFO Colette Kress sold 20,000 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $3,561,200.00. Following the completion of the sale, the chief financial officer owned 153,060 shares in the company, valued at $27,253,863.60. The trade was a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the sale, the chief executive officer owned 72,998,225 shares of the company’s stock, valued at approximately $13,240,418,050.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Insiders own 4.17% of the company’s stock.
NVIDIA Price Performance
NVDA opened at $180.45 on Friday. The company’s 50 day simple moving average is $163.96 and its 200 day simple moving average is $135.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $184.48. The stock has a market capitalization of $4.40 trillion, a PE ratio of 58.21, a P/E/G ratio of 1.60 and a beta of 2.14.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid 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 payout ratio is 1.29%.
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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