Sweeney & Michel LLC Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Sweeney & Michel LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,780 shares of the computer hardware maker's stock, valued at approximately $2,035,000. NVIDIA makes up 0.8% of Sweeney & Michel LLC's holdings, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hickory Point Bank & Trust bought a new position in shares of NVIDIA during the fourth quarter valued at $2,272,000. BTC Capital Management Inc. boosted its stake in NVIDIA by 2.3% in the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock worth $35,785,000 after purchasing an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP grew its holdings in shares of NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Waddell & Associates LLC increased its stake in shares of NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock valued at $3,240,000 after buying an additional 297 shares in the last quarter. Finally, Strategy Asset Managers LLC increased its stake in shares of NVIDIA by 0.8% in the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock valued at $7,024,000 after buying an additional 405 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company's 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 sale, the director now owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now owns 479,428 shares of the company's stock, valued at $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,560,845 shares of company stock valued at $360,351,849. Corporate insiders own 4.17% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on NVDA shares. KeyCorp set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Barclays reiterated an "overweight" rating and set a $170.00 target price (up from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. William Blair reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $172.24.

NVIDIA Stock Down 2.1%

Shares of NASDAQ NVDA traded down $3.03 during mid-day trading on Friday, reaching $141.97. 180,270,368 shares of the company's stock were exchanged, compared to its average volume of 276,444,292. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $153.13. The business has a fifty day simple moving average of $121.86 and a 200 day simple moving average of $126.41. The firm has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company's revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

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.