GW&K Investment Management LLC Sells 41,103 Shares of NVIDIA Corporation $NVDA

GW&K Investment Management LLC cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 10.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 355,934 shares of the computer hardware maker’s stock after selling 41,103 shares during the period. GW&K Investment Management LLC’s holdings in NVIDIA were worth $38,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Norges Bank bought a new position in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC boosted its stake in NVIDIA by 12,173.2% during 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 buying an additional 48,439,859 shares during the last quarter. Northern Trust Corp boosted its stake in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after buying an additional 23,948,733 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in NVIDIA during the fourth quarter valued at approximately $2,987,733,000. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NVDA. Loop Capital increased their price target on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Morgan Stanley reiterated an “overweight” rating and issued a $206.00 target price (up previously from $200.00) on shares of NVIDIA in a report on Monday. Rosenblatt Securities lifted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $240.00 target price (up previously from $200.00) on shares of NVIDIA in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $187.61.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,912,440 shares of company stock worth $902,886,782. 4.17% of the stock is owned by insiders.

NVIDIA Stock Up 0.9%

NVIDIA stock opened at $182.01 on Tuesday. The stock has a market capitalization of $4.44 trillion, a PE ratio of 58.71, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The business has a 50 day simple moving average of $164.75 and a 200-day simple moving average of $135.95. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share. On average, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

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.