Altus Wealth Group LLC Acquires 1,970 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Altus Wealth Group LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,096 shares of the computer hardware maker's stock after acquiring an additional 1,970 shares during the period. NVIDIA accounts for 1.1% of Altus Wealth Group LLC's holdings, making the stock its 17th biggest position. Altus Wealth Group LLC's holdings in NVIDIA were worth $2,286,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in NVIDIA during the 4th quarter worth $43,515,504,000. GAMMA Investing LLC increased its position in NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp increased its position in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the period. Proficio Capital Partners LLC increased its position in NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after buying an additional 23,948,733 shares during the period. Institutional investors own 65.27% of the company's stock.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,264,800 shares of company stock valued at $786,735,503 over the last three months. 4.17% of the stock is owned by insiders.

NVIDIA Trading Up 1.9%

Shares of NVDA stock traded up $3.25 during mid-day trading on Monday, reaching $176.75. 139,407,827 shares of the stock traded hands, compared to its average volume of 155,064,304. The stock's fifty day simple moving average is $151.77 and its two-hundred day simple moving average is $131.09. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $177.00. The company has a market cap of $4.31 trillion, a price-to-earnings ratio of 57.02, a price-to-earnings-growth ratio of 1.53 and a beta of 2.13. 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 (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the business posted $0.61 earnings per share. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. On average, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective on the stock. Bank of America increased their target price on NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Jefferies Financial Group increased their target price on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Finally, Wedbush reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $181.22.

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.