Aspetuck Financial Management LLC Acquires Shares of 104,579 NVIDIA Corporation (NASDAQ:NVDA)

Aspetuck Financial Management LLC purchased a new stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 104,579 shares of the computer hardware maker's stock, valued at approximately $11,334,000. NVIDIA comprises about 9.8% of Aspetuck Financial Management LLC's portfolio, making the stock its largest holding.

A number of other institutional investors have also recently made changes to their positions in NVDA. FMR LLC increased its holdings in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its holdings in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank purchased a new position in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp increased its holdings in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. Institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NVDA shares. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Barclays lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and a consensus price target of $181.22.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $0.59 during trading hours on Friday, reaching $172.41. The stock had a trading volume of 145,724,125 shares, compared to its average volume of 263,966,224. The stock's 50 day moving average is $146.99 and its 200 day moving average is $129.86. The firm has a market capitalization of $4.21 trillion, a PE ratio of 55.62, a PEG ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $174.25. 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 (NASDAQ:NVDA - Get Free Report) last issued 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 firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. Equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given 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 0.02%. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Insider Activity

In other news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business'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 sale, the director directly owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is currently owned by insiders.

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.