NVIDIA Corporation (NASDAQ:NVDA) Shares Bought by Sky Investment Group LLC

Sky Investment Group LLC lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,846 shares of the computer hardware maker’s stock after acquiring an additional 1,885 shares during the period. NVIDIA comprises approximately 5.8% of Sky Investment Group LLC’s holdings, making the stock its 2nd largest holding. Sky Investment Group LLC’s holdings in NVIDIA were worth $31,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of NVIDIA in the 4th quarter worth about $43,515,504,000. GAMMA Investing LLC lifted its position in NVIDIA by 12,173.2% in 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 period. Northern Trust Corp lifted its holdings in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. Proficio Capital Partners LLC lifted its holdings in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in 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 valued at $3,864,026,000 after purchasing an additional 23,948,733 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVIDIA stock opened at $157.75 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business has a 50 day simple moving average of $130.96 and a 200 day simple moving average of $127.05. NVIDIA Corporation has a one year low of $86.62 and a one year high of $158.71. The company has a market capitalization of $3.85 trillion, a PE ratio of 50.89, a price-to-earnings-growth ratio of 1.37 and a beta of 2.12.

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

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president now directly owns 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the director now directly owns 201,044 shares of the company’s stock, valued at approximately $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,792,267 shares of company stock valued at $544,823,117. 4.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on NVDA. Truist Financial increased their price target on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Bank of America boosted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Arete Research upgraded NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Raymond James Financial raised their target price on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. Finally, Barclays increased their price target on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $175.78.

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.