EULAV Asset Management Has $43.37 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

EULAV Asset Management boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 9.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 400,139 shares of the computer hardware maker’s stock after buying an additional 33,002 shares during the period. EULAV Asset Management’s holdings in NVIDIA were worth $43,367,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $50,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $51,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Down 2.3%

NVDA stock opened at $173.72 on Friday. The company has a market cap of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.57 and a beta of 2.14. The business has a 50-day simple moving average of $155.30 and a 200 day simple moving average of $132.32. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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 company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NVDA. Benchmark reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Rosenblatt Securities raised their target price on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Loop Capital raised their target price on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Barclays raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Finally, The Goldman Sachs Group assumed coverage on shares of NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.03.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction dated 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 owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated 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 directly owned 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock worth $800,141,003 in the last ninety days. Insiders own 4.17% of the company’s stock.

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.