Overbrook Management Corp Acquires 38,481 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Overbrook Management Corp raised its position in NVIDIA Corporation (NASDAQ:NVDA) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 297,982 shares of the computer hardware maker’s stock after purchasing an additional 38,481 shares during the period. NVIDIA makes up about 7.6% of Overbrook Management Corp’s investment portfolio, making the stock its biggest holding. Overbrook Management Corp’s holdings in NVIDIA were worth $32,295,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in NVIDIA in the fourth quarter valued at $43,515,504,000. GAMMA Investing LLC lifted its stake 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 valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the last quarter. Northern Trust Corp lifted its stake in shares of NVIDIA by 15.8% during the 4th 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. Proficio Capital Partners LLC lifted its stake in shares of NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock worth $3,864,026,000 after buying an additional 23,948,733 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA 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 owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,964,800 shares of company stock valued at $734,906,003 over the last quarter. 4.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America lifted their target price on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. DA Davidson boosted their price target 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. TD Cowen boosted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley restated an “overweight” rating and set a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.22.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $171.38 on Tuesday. The company’s fifty day moving average is $146.99 and its two-hundred day moving average is $129.81. The company has a market cap of $4.18 trillion, a P/E ratio of 55.28, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.25. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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 business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’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 business posted $0.61 earnings per share. Equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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