NVIDIA Corporation (NASDAQ:NVDA) is Prospect Hill Management LLC’s 10th Largest Position

Prospect Hill Management LLC increased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 24.4% in the 1st quarter, HoldingsChannel reports. The fund owned 31,909 shares of the computer hardware maker’s stock after purchasing an additional 6,259 shares during the quarter. NVIDIA makes up approximately 1.8% of Prospect Hill Management LLC’s holdings, making the stock its 10th biggest holding. Prospect Hill Management LLC’s holdings in NVIDIA were worth $3,458,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC lifted its stake in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new position in NVIDIA during the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp lifted 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 worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $180.45 on Friday. The business’s 50 day simple moving average is $163.96 and its 200-day simple moving average is $135.36. The firm has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14. 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 Corporation has a 12 month low of $86.62 and a 12 month high of $184.48.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the firm earned $0.61 EPS. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s payout ratio is currently 1.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Barclays increased their price objective on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Oppenheimer increased their price objective on NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. TD Cowen increased their price objective on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. BNP Paribas upgraded NVIDIA to a “hold” rating in a research note on Friday, August 1st. Finally, Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.33.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is currently owned by company insiders.

NVIDIA 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.