NVIDIA Corporation (NASDAQ:NVDA) Position Lowered by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lessened its stake in NVIDIA Corporation (NASDAQ:NVDA) by 0.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,010,799 shares of the computer hardware maker’s stock after selling 5,900 shares during the quarter. NVIDIA makes up about 6.2% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 2nd largest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in NVIDIA were worth $109,559,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of NVDA. Crescent Sterling Ltd. raised its stake in NVIDIA by 14.5% during the first quarter. Crescent Sterling Ltd. now owns 7,874 shares of the computer hardware maker’s stock valued at $853,000 after purchasing an additional 996 shares in the last quarter. MADDEN SECURITIES Corp increased its stake in NVIDIA by 1.0% in the 1st quarter. MADDEN SECURITIES Corp now owns 78,838 shares of the computer hardware maker’s stock worth $8,544,000 after buying an additional 766 shares during the period. Accurate Wealth Management LLC grew its holdings in NVIDIA by 2.9% during the 1st quarter. Accurate Wealth Management LLC now owns 87,806 shares of the computer hardware maker’s stock worth $9,736,000 after acquiring an additional 2,483 shares in the last quarter. Ayrshire Capital Management LLC grew its holdings in NVIDIA by 442.2% during the 1st quarter. Ayrshire Capital Management LLC now owns 23,627 shares of the computer hardware maker’s stock worth $2,561,000 after acquiring an additional 19,269 shares in the last quarter. Finally, Prairie Sky Financial Group LLC grew its holdings in NVIDIA by 10.7% during the 1st quarter. Prairie Sky Financial Group LLC now owns 6,966 shares of the computer hardware maker’s stock worth $755,000 after acquiring an additional 673 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 0.2%

NVDA stock opened at $144.17 on Tuesday. The company’s 50 day moving average price is $127.04 and its 200 day moving average price is $126.44. 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 fifty-two week low of $86.62 and a fifty-two week high of $153.13. The firm has a market capitalization of $3.52 trillion, a price-to-earnings ratio of 46.51, a PEG ratio of 1.27 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s payout ratio is currently 1.29%.

Analysts Set New Price Targets

Several analysts have commented on NVDA shares. DA Davidson lifted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Finally, Susquehanna reaffirmed a “positive” rating and set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.05.

Insider Buying and Selling

In other news, CFO Colette Kress sold 30,500 shares of NVIDIA stock in a transaction on Friday, June 20th. The stock was sold at an average price of $144.21, for a total transaction of $4,398,405.00. Following the completion of the transaction, the chief financial officer now owns 3,012,166 shares of the company’s stock, valued at $434,384,458.86. The trade was a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 of the company’s stock, valued at $27,104,752.08. This trade represents a 19.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,228,433 shares of company stock valued at $459,710,171 over the last three months. 4.17% of the stock is currently owned by company insiders.

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.