Spear Holdings RSC Ltd Acquires Shares of 146,700 NVIDIA Corporation (NASDAQ:NVDA)

Spear Holdings RSC Ltd acquired a new position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 146,700 shares of the computer hardware maker's stock, valued at approximately $15,899,000. NVIDIA accounts for 1.2% of Spear Holdings RSC Ltd's investment portfolio, making the stock its 14th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Astoria Portfolio Advisors LLC. increased its stake in shares of NVIDIA by 0.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after purchasing an additional 864 shares in the last quarter. Centerpoint Advisory Group increased its stake in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares in the last quarter. GSB Wealth Management LLC increased its stake in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares in the last quarter. Variant Private Wealth LLC increased its stake in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc increased its stake in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Down 1.0%

NVIDIA stock traded down $1.74 during mid-day trading on Friday, hitting $176.13. 105,302,895 shares of the stock were exchanged, compared to its average volume of 248,096,203. 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 Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The firm's fifty day simple moving average is $154.45 and its two-hundred day simple moving average is $132.03. The stock has a market capitalization of $4.30 trillion, a price-to-earnings ratio of 56.78, a PEG ratio of 1.58 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. Analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on NVDA. Benchmark reiterated a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Loop Capital upped their price target on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. UBS Group restated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Finally, HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research report on Thursday, April 3rd. One investment 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. According to MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $182.03.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock valued at $800,141,003 over the last quarter. 4.17% of the stock is owned by insiders.

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.