Apollon Wealth Management LLC Acquires 124,318 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Apollon Wealth Management LLC increased its holdings in NVIDIA Corporation by 11.0% during the first quarter, acquiring an additional 124,318 shares, bringing their total ownership to 1,257,466 shares valued at approximately $136.3 million.
• Wall Street analysts have a generally positive outlook on NVIDIA, with thirty-two analysts rating the stock as 'buy' and a consensus target price of $183.75, indicating strong future potential.
• NVIDIA's CEO, Jen Hsun Huang, recently sold 75,000 shares for approximately $13.68 million, but still retains ownership of around 73.2 million shares valued at over $13.35 billion.

Apollon Wealth Management LLC grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,257,466 shares of the computer hardware maker's stock after purchasing an additional 124,318 shares during the period. NVIDIA accounts for 3.0% of Apollon Wealth Management LLC's portfolio, making the stock its 3rd biggest position. Apollon Wealth Management LLC's holdings in NVIDIA were worth $136,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of 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 acquired a new position in NVIDIA during the 1st quarter valued at about $51,000. Bruce G. Allen Investments LLC increased its stake 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 buying an additional 327 shares during the period. LSV Asset Management bought a new position in shares of NVIDIA during the 4th quarter valued at about $54,000. Finally, Delos Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 283 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on NVDA shares. Barclays raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. DA Davidson raised their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. The Goldman Sachs Group began coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective on the stock. Loop Capital raised their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.75.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $182.38, for a total value of $13,678,500.00. Following the sale, the chief executive officer directly owned 73,223,225 shares in the company, valued at $13,354,451,775.50. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 27,640 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,687,440 shares of company stock valued at $862,095,782. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Up 1.1%

Shares of NASDAQ NVDA opened at $182.67 on Monday. The firm's 50-day simple moving average is $159.82 and its 200 day simple moving average is $133.62. The company 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. 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 $183.88.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. On average, research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA 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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