Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,641,280 shares of the computer hardware maker’s stock after selling 222,243 shares during the period. NVIDIA comprises approximately 1.8% of Sumitomo Mitsui Trust Holdings Inc.’s portfolio, making the stock its 4th largest position. Sumitomo Mitsui Trust Holdings Inc.’s holdings in NVIDIA were worth $2,400,288,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in NVIDIA by 9.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after acquiring an additional 5,043,685 shares during the last quarter. Geode Capital Management LLC lifted its position in NVIDIA by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 45,788,952 shares of the computer hardware maker’s stock valued at $6,679,427,000 after acquiring an additional 692,636 shares during the last quarter. Morgan Stanley lifted its position in NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares during the last quarter. Norges Bank purchased a new stake in NVIDIA in the fourth quarter valued at $3,900,874,000. Finally, Jennison Associates LLC increased its stake in NVIDIA by 34.8% in the fourth quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after purchasing an additional 6,013,647 shares during the period. 64.00% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Credit Suisse Group set a $275.00 price objective on shares of NVIDIA in a research note on Wednesday, March 22nd. Needham & Company LLC lifted their price objective on shares of NVIDIA from $300.00 to $460.00 in a research note on Thursday, May 25th. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $320.00 to $450.00 in a research note on Thursday, May 25th. UBS Group boosted their price target on shares of NVIDIA from $315.00 to $475.00 in a research note on Thursday, May 25th. Finally, TheStreet upgraded shares of NVIDIA from a “c+” rating to a “b-” rating in a research note on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $410.14.
Insiders Place Their Bets
NVIDIA Stock Performance
NASDAQ:NVDA opened at $464.61 on Tuesday. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.15 trillion, a P/E ratio of 241.99, a P/E/G ratio of 3.07 and a beta of 1.74. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $480.88. The firm’s 50 day moving average is $386.41 and its two-hundred day moving average is $285.53.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The company had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. NVIDIA’s revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. Analysts expect that NVIDIA Co. will post 6.43 EPS for the current year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s dividend payout ratio is currently 8.33%.
About NVIDIA
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.
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