Pegasus Asset Management Inc. Buys 197 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Pegasus Asset Management Inc. grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,750 shares of the computer hardware maker’s stock after acquiring an additional 197 shares during the period. NVIDIA comprises about 3.3% of Pegasus Asset Management Inc.’s holdings, making the stock its 10th biggest position. Pegasus Asset Management Inc.’s holdings in NVIDIA were worth $8,318,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NVDA. FMR LLC boosted its position in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in NVIDIA by 0.9% in 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 acquired a new stake in NVIDIA in the 4th quarter valued at about $43,515,504,000. Finally, Northern Trust Corp increased its holdings in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on NVDA shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Bank of America lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Piper Sandler reiterated an “overweight” rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. DA Davidson raised their price target on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Finally, Loop Capital boosted their price target on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, four have issued 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $176.19.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Trading Up 1.3%

Shares of NVDA opened at $159.28 on Friday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $160.98. The firm has a market capitalization of $3.89 trillion, a P/E ratio of 51.38, a price-to-earnings-growth ratio of 1.41 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. The stock’s fifty day simple moving average is $136.38 and its 200 day simple moving average is $127.84.

NVIDIA (NASDAQ:NVDA) last released 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). The firm had revenue of $44.06 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.61 earnings per share. On average, equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.29%.

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.