TCW Group Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,251,919 shares of the computer hardware maker’s stock after selling 28,266 shares during the quarter. NVIDIA comprises about 4.4% of TCW Group Inc.’s holdings, making the stock its biggest holding. TCW Group Inc. owned about 0.05% of NVIDIA worth $347,746,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Washington Trust Bank lifted its position in shares of NVIDIA by 36.0% during the first quarter. Washington Trust Bank now owns 7,033 shares of the computer hardware maker’s stock worth $1,954,000 after purchasing an additional 1,863 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in NVIDIA in the first quarter valued at approximately $23,416,000. Two Sigma Investments LP acquired a new stake in NVIDIA in the first quarter valued at approximately $18,009,000. Chiron Investment Management LLC acquired a new stake in NVIDIA in the first quarter valued at approximately $9,954,000. Finally, Advisor Partners II LLC raised its holdings in NVIDIA by 6.7% in the first quarter. Advisor Partners II LLC now owns 128,535 shares of the computer hardware maker’s stock valued at $35,703,000 after acquiring an additional 8,080 shares in the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.
Insider Transactions at NVIDIA
In other news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction on Monday, August 28th. The stock was sold at an average price of $460.74, for a total value of $2,294,485.20. Following the transaction, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Insiders sold 324,536 shares of company stock valued at $140,336,278 in the last 90 days. 3.99% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on NVDA shares. UBS Group raised their target price on shares of NVIDIA from $540.00 to $560.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Piper Sandler raised their target price on shares of NVIDIA from $500.00 to $620.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. Tigress Financial raised their target price on shares of NVIDIA from $320.00 to $560.00 in a report on Friday, July 7th. JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. Finally, StockNews.com assumed coverage on shares of NVIDIA in a report on Thursday, August 17th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $555.70.
NVIDIA Price Performance
Shares of NASDAQ NVDA opened at $451.48 on Monday. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 110.08, a PEG ratio of 3.71 and a beta of 1.74. NVIDIA Co. has a one year low of $108.13 and a one year high of $502.66. The company’s fifty day moving average is $452.59 and its two-hundred day moving average is $359.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping the consensus estimate of $2.08 by $0.62. The company had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business’s revenue was up 101.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. Analysts forecast that NVIDIA Co. will post 9.24 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.
NVIDIA Company Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.