Montrusco Bolton Investments Inc. Has $560.66 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Montrusco Bolton Investments Inc. grew its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,296,119 shares of the computer hardware maker’s stock after purchasing an additional 457,631 shares during the period. NVIDIA comprises about 7.4% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 2nd biggest holding. Montrusco Bolton Investments Inc.’s holdings in NVIDIA were worth $560,656,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NVDA. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter worth $43,515,504,000. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 48,439,859 shares during the period. Northern Trust Corp grew 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 worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of NVIDIA by 204.6% in the first 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 acquiring an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of NVIDIA in the fourth quarter worth $2,987,733,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.8%

NVDA opened at $181.62 on Thursday. The stock has a market cap of $4.43 trillion, a price-to-earnings ratio of 58.59, a P/E/G ratio of 1.61 and a beta of 2.14. The stock’s 50 day moving average price is $162.34 and its 200-day moving average price is $134.56. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. 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 released its earnings results 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 business had revenue of $44.06 billion for 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 company’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s payout ratio is presently 1.29%.

Analysts Set New Price Targets

Several brokerages recently commented on NVDA. Truist Financial lifted their price objective on NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Loop Capital lifted their target price on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. DA Davidson lifted their target price on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group began coverage on NVIDIA in a research report on Thursday, July 10th. They set a “buy” rating and a $185.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $185.97.

Insider Buying and Selling

In related news, CFO Colette Kress sold 27,640 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.06, for a total value of $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. 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 business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total value of $13,603,500.00. Following the completion of the sale, the chief executive officer owned 72,998,225 shares of the company’s stock, valued at $13,240,418,050.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,837,440 shares of company stock valued at $889,404,782 in the last quarter. 4.17% of the stock is owned by company insiders.

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.