Citigroup maintains a Buy recommendation for NVIDIA (NASDAQ:NVDA) as reported on May 24, 2023. The average one-year price target for NVIDIA is $294.65, representing a 3.98% downside from the current closing price of $306.88. Analysts forecast an increase in annual revenue to $30,001MM with a non-GAAP EPS of 4.40.

With 4850 funds or institutions holding positions in NVIDIA, there has been a 7.90% increase in ownership in the last quarter. The average portfolio weight of funds dedicated to NVDA is 1.34%, with total shares owned by institutions increasing to 1,781,240K shares. The put/call ratio for NVDA is 1.08, indicating a bearish outlook.

Institutional shareholders like Vanguard Total Stock Market Index Fund and Price T Rowe Associates have increased their portfolio allocation in NVDA by double digits in the last quarter. Vanguard Total Stock Market Index Fund now holds 71,043K shares, while Price T Rowe Associates holds 56,464K shares. Geode Capital Management and Invesco Qqq Trust, Series 1 have also seen increases in their NVDA holdings.

NVIDIA, known for GPU-accelerated computing, specializes in products for gaming, professional visualization, data center, and automotive industries. Its technology is favored by gamers, designers, and scientists worldwide, positioning the company at the forefront of major technological trends. For more information, visit Fintel’s original story on Citigroup’s recommendation for NVIDIA.

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