Pettee Investors Inc. Raises Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Pettee Investors Inc. boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 10.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,836 shares of the computer hardware maker’s stock after acquiring an additional 1,085 shares during the period. Pettee Investors Inc.’s holdings in NVIDIA were worth $1,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. Brighton Jones LLC grew its stake in NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after buying an additional 35,815 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in NVIDIA by 1.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock worth $315,100,000 after buying an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE grew its stake in NVIDIA by 6.7% in the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock worth $7,842,000 after buying an additional 3,653 shares in the last quarter. Hudson Value Partners LLC grew its stake in NVIDIA by 30.7% in the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock worth $6,805,000 after buying an additional 11,900 shares in the last quarter. Finally, S&CO Inc. grew its stake in NVIDIA by 12.4% in the 4th quarter. S&CO Inc. now owns 74,855 shares of the computer hardware maker’s stock worth $10,052,000 after buying an additional 8,240 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $181.62 on Thursday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The company’s 50-day moving average is $162.34 and its 200 day moving average is $134.56. The company has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 58.59, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. 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 announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s payout ratio is currently 1.29%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research reports. UBS Group reissued a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $185.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday. Jefferies Financial Group boosted their price objective on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Citigroup boosted their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, Needham & Company LLC boosted their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.97.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,837,440 shares of company stock worth $889,404,782 over the last three months. Company insiders own 4.17% of the company’s stock.

NVIDIA Company 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.