Arvest Investments Inc. Buys New Position in NVIDIA Corporation (NASDAQ:NVDA)

Arvest Investments Inc. bought a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 17,942 shares of the computer hardware maker's stock, valued at approximately $1,945,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hickory Point Bank & Trust bought a new stake in NVIDIA in the 4th quarter worth approximately $2,272,000. BTC Capital Management Inc. raised its stake in shares of NVIDIA by 2.3% during the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock worth $35,785,000 after acquiring an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP lifted its holdings in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after acquiring an additional 9,944 shares during the last quarter. Waddell & Associates LLC boosted its stake in shares of NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock valued at $3,240,000 after purchasing an additional 297 shares in the last quarter. Finally, Strategy Asset Managers LLC grew its holdings in shares of NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock valued at $7,024,000 after purchasing an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Activity

In related news, Director A Brooke Seawell sold 54,467 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $146.88, for a total transaction of $8,000,112.96. Following the completion of the transaction, the director now owns 1,834,570 shares of the company's stock, valued at $269,461,641.60. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 30,500 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $144.21, for a total value of $4,398,405.00. Following the completion of the sale, the chief financial officer now directly owns 3,012,166 shares in the company, valued at $434,384,458.86. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,393,863 shares of company stock worth $483,709,832. Insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVDA. TD Cowen boosted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Raymond James Financial increased their target price on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. DZ Bank raised NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Monday, June 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.78.

NVIDIA Price Performance

NVDA opened at $154.31 on Thursday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.77 trillion, a price-to-earnings ratio of 49.78, a price-to-earnings-growth ratio of 1.31 and a beta of 2.12. The stock has a fifty day simple moving average of $128.75 and a two-hundred day simple moving average of $126.78. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $154.45.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm's revenue was up 69.2% compared to the same quarter last year. Research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.

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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