NVIDIA Corporation (NASDAQ:NVDA) is Morse Asset Management Inc’s Largest Position

Morse Asset Management Inc cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,923 shares of the computer hardware maker’s stock after selling 4,334 shares during the period. NVIDIA makes up about 5.5% of Morse Asset Management Inc’s portfolio, making the stock its biggest holding. Morse Asset Management Inc’s holdings in NVIDIA were worth $21,668,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 purchasing an additional 3,721,331 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp lifted its stake in shares of NVIDIA by 15.8% in 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 purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 0.9%

Shares of NASDAQ:NVDA opened at $180.45 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $184.48. The business’s fifty day simple moving average is $163.96 and its 200-day simple moving average is $135.45. The company has a market capitalization of $4.40 trillion, a PE ratio of 58.21, a P/E/G ratio of 1.59 and a beta of 2.14. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. The company’s revenue was up 69.2% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 dividend payout ratio (DPR) is currently 1.29%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NVDA shares. Bank of America raised their price objective on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. The Goldman Sachs Group started coverage on NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective for the company. Barclays raised their price objective on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Wells Fargo & Company raised their price objective on NVIDIA from $185.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 11th. Finally, Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. One equities research 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, the company has an average rating of “Moderate Buy” and a consensus target price of $186.33.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is owned by insiders.

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.