NVIDIA Corporation (NASDAQ:NVDA) is TigerOak Management L.L.C.’s Largest Position

TigerOak Management L.L.C. lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 244,106 shares of the computer hardware maker’s stock after selling 1,627 shares during the quarter. NVIDIA accounts for 10.2% of TigerOak Management L.L.C.’s holdings, making the stock its biggest position. TigerOak Management L.L.C.’s holdings in NVIDIA were worth $26,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Group Ltd. lifted its position in shares of NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after buying an additional 100 shares during the last quarter. Tallon Kerry Patrick acquired a new position in shares of NVIDIA during the 4th quarter worth $972,000. Capital & Planning LLC lifted its holdings in shares of NVIDIA by 16.9% in the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after purchasing an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. boosted its stake in shares of NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after purchasing an additional 104 shares during the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after acquiring an additional 35,815 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $173.00 on Friday. The firm has a market cap of $4.22 trillion, a P/E ratio of 55.81, a P/E/G ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm’s 50 day moving average price is $145.88 and its 200-day moving average price is $129.63.

NVIDIA (NASDAQ:NVDA) last issued 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is currently 1.29%.

Insider Activity

In other 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 value of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president directly owned 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 disclosure for this sale can be found here. In the last three months, insiders sold 4,814,800 shares of company stock worth $709,172,753. Corporate insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NVDA. Bank of America raised their price target on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday. Phillip Securities upgraded NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Barclays lifted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Finally, HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

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.