Allen Capital Group LLC Purchases 9,881 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Allen Capital Group LLC raised its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 16.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,986 shares of the computer hardware maker's stock after acquiring an additional 9,881 shares during the quarter. NVIDIA comprises 0.8% of Allen Capital Group LLC's investment portfolio, making the stock its 29th biggest holding. Allen Capital Group LLC's holdings in NVIDIA were worth $7,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Copia Wealth Management acquired a new stake in shares of NVIDIA in the 4th quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA in the 1st quarter valued at about $51,000. Bruce G. Allen Investments LLC increased its stake in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares during the last quarter. LSV Asset Management purchased a new stake in NVIDIA in the 4th quarter valued at about $54,000. Finally, Delos Wealth Advisors LLC increased its stake in NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock valued at $66,000 after buying an additional 283 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several analyst reports. Needham & Company LLC increased their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. DA Davidson raised their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Benchmark restated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Finally, BNP Paribas upgraded shares of NVIDIA to a "hold" rating in a research note on Friday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $183.75.

Insider Activity

In other news, CFO Colette Kress sold 27,640 shares of the company's stock in a transaction that occurred 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 owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 5,687,440 shares of company stock worth $862,095,782 in the last three months. 4.17% of the stock is currently owned by insiders.

NVIDIA Trading Up 0.6%

Shares of NVDA opened at $183.16 on Wednesday. The firm's 50-day moving average price is $161.55 and its 200-day moving average price is $134.24. The firm has a market capitalization of $4.47 trillion, a price-to-earnings ratio of 59.08, a PEG ratio of 1.60 and a beta of 2.14. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results 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 the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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%.

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.

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