NVIDIA Co. (NASDAQ:NVDA) is Hoffman Alan N Investment Management’s 7th Largest Position

Hoffman Alan N Investment Management raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,156 shares of the computer hardware maker’s stock after acquiring an additional 356 shares during the period. NVIDIA comprises about 0.6% of Hoffman Alan N Investment Management’s portfolio, making the stock its 7th largest holding. Hoffman Alan N Investment Management’s holdings in NVIDIA were worth $1,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in NVIDIA in the fourth quarter worth about $43,515,504,000. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 48,439,859 shares in the last quarter. Northern Trust Corp increased its stake in shares of 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 purchasing an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after buying an additional 34,441,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $2,987,733,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Down 0.8%

Shares of NVDA stock opened at $142.83 on Thursday. The company has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 56.21, a PEG ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a one year low of $86.62 and a one year high of $153.13. The company’s fifty day moving average price is $120.91 and its 200-day moving average price is $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NVDA. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Thursday, April 3rd. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Piper Sandler restated an “overweight” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Truist Financial raised their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.24.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, 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 sale, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,560,845 shares of company stock worth $360,351,849. Insiders own 4.17% of the company’s stock.

About NVIDIA

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.