Lazard Freres Gestion S.A.S. Buys 146,414 Shares of NVIDIA Corporation $NVDA

Lazard Freres Gestion S.A.S. increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 12.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,328,782 shares of the computer hardware maker’s stock after acquiring an additional 146,414 shares during the quarter. NVIDIA makes up 3.5% of Lazard Freres Gestion S.A.S.’s holdings, making the stock its 8th largest holding. Lazard Freres Gestion S.A.S.’s holdings in NVIDIA were worth $144,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of NVDA. Kathleen S. Wright Associates Inc. grew its holdings in shares of NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after buying an additional 254 shares in the last quarter. Copia Wealth Management purchased a new position in shares of NVIDIA during the fourth quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of NVIDIA during the first quarter valued at $51,000. Bruce G. Allen Investments LLC grew its holdings in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after buying an additional 327 shares in the last quarter. Finally, LSV Asset Management purchased a new position in shares of NVIDIA during the fourth quarter valued at $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $179.76, for a total transaction of $13,482,000.00. Following the sale, the chief executive officer owned 72,848,225 shares of the company’s stock, valued at approximately $13,095,196,926. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 27,640 shares of NVIDIA 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 sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,912,440 shares of company stock worth $902,886,782 in the last three months. 4.17% of the stock is owned by insiders.

Analyst Ratings Changes

NVDA has been the subject of a number of research reports. Oppenheimer lifted their price objective on NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Summit Insights raised NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. UBS Group lifted their price objective on NVIDIA from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Wedbush lifted their price objective on NVIDIA from $175.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Finally, Needham & Company LLC lifted their price objective on NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Four analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $194.31.

NVIDIA Trading Down 0.1%

NVIDIA stock opened at $181.60 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The business’s 50-day simple moving average is $169.53 and its 200-day simple moving average is $138.41. The firm has a market capitalization of $4.43 trillion, a PE ratio of 58.58, a PEG ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48.

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 the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%.The company’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is currently 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.