19,045 Shares in NVIDIA Corporation (NASDAQ:NVDA) Acquired by Baer Investment Advisory LLC

Key Points

• Baer Investment Advisory LLC acquired 19,045 shares of NVIDIA Corporation worth approximately $2,064,000, making it the fund's 15th largest position.
• Oppenheimer recently raised NVIDIA's price target from $175.00 to $200.00 and rated it as "outperform," contributing to an average target price of $183.75 among analysts.
• NVIDIA reported quarterly earnings of $0.81 per share, missing expectations, but had revenue of $44.06 billion, which exceeded analysts' predictions.

Baer Investment Advisory LLC acquired a new position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,045 shares of the computer hardware maker's stock, valued at approximately $2,064,000. NVIDIA makes up approximately 3.7% of Baer Investment Advisory LLC's investment portfolio, making the stock its 15th largest position.

Several other institutional investors also recently modified their holdings of the business. Copia Wealth Management purchased a new stake in NVIDIA during the fourth quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA during the 1st quarter valued at about $51,000. Bruce G. Allen Investments LLC boosted its position in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after acquiring an additional 327 shares in the last quarter. LSV Asset Management bought a new stake in NVIDIA during the 4th quarter valued at approximately $54,000. Finally, Delos Wealth Advisors LLC boosted its position in NVIDIA by 134.8% during the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock valued at $66,000 after acquiring an additional 283 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of analyst reports. Oppenheimer boosted their price target on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Benchmark reissued a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. BNP Paribas raised NVIDIA to a "hold" rating in a research report on Friday, August 1st. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, Raymond James Financial boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. One 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 issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $183.75.

NVIDIA Stock Performance

NVIDIA stock opened at $182.67 on Monday. The firm has a 50 day simple moving average of $159.82 and a 200-day simple moving average of $133.62. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock has a market cap of $4.46 trillion, a price-to-earnings ratio of 58.93, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. On average, analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Colette Kress sold 27,640 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the transaction, the chief financial officer directly owned 2,956,876 shares of the company's stock, valued at $526,501,340.56. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Friday, August 8th. The shares were sold at an average price of $182.38, for a total transaction of $13,678,500.00. Following the completion of the transaction, the chief executive officer owned 73,223,225 shares in the company, valued at approximately $13,354,451,775.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,687,440 shares of company stock worth $862,095,782 over the last 90 days. Company insiders own 4.17% of the company's stock.

About NVIDIA

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.

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