BTS Asset Management Inc. Raises Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

BTS Asset Management Inc. grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 9.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,068 shares of the computer hardware maker’s stock after purchasing an additional 180 shares during the quarter. NVIDIA makes up approximately 0.3% of BTS Asset Management Inc.’s holdings, making the stock its 28th biggest position. BTS Asset Management Inc.’s holdings in NVIDIA were worth $224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its holdings in NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after acquiring an additional 3,721,331 shares during the last quarter. Norges Bank bought a new stake in NVIDIA in the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp lifted its position in NVIDIA by 15.8% in 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 buying an additional 36,266,817 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Loop Capital lifted their price target on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Thursday, April 3rd. Finally, Bank of America boosted their price target on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.78.

NVIDIA Stock Performance

Shares of NVDA stock opened at $155.02 on Friday. The stock has a fifty day moving average price of $129.83 and a 200 day moving average price of $126.89. The stock has a market cap of $3.78 trillion, a PE ratio of 50.01, a P/E/G ratio of 1.36 and a beta of 2.12. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $156.72. 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 (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction on 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 now owns 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 30,500 shares of the firm’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $144.21, for a total value of $4,398,405.00. Following the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,468,863 shares of company stock valued at $495,150,332. Corporate insiders own 4.17% of the company’s stock.

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.