Avaii Wealth Management LLC Buys 16,854 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Avaii Wealth Management LLC increased its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 33.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,059 shares of the computer hardware maker's stock after acquiring an additional 16,854 shares during the period. NVIDIA makes up 3.9% of Avaii Wealth Management LLC's investment portfolio, making the stock its 6th largest position. Avaii Wealth Management LLC's holdings in NVIDIA were worth $7,268,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Hickory Point Bank & Trust acquired a new position in NVIDIA during the fourth quarter valued at approximately $2,272,000. BTC Capital Management Inc. increased its stake in shares of NVIDIA by 2.3% in the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock worth $35,785,000 after buying an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP increased its stake in shares of NVIDIA by 59.3% in the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after buying an additional 9,944 shares during the last quarter. Waddell & Associates LLC increased its stake in shares of NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock worth $3,240,000 after buying an additional 297 shares during the last quarter. Finally, Strategy Asset Managers LLC increased its stake in shares of NVIDIA by 0.8% in the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock worth $7,024,000 after buying an additional 405 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 20,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $144.21, for a total value of $2,884,200.00. Following the transaction, the chief financial officer now owns 173,060 shares of the company's stock, valued at $24,956,982.60. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,792,267 shares of company stock valued at $544,823,117. 4.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. Morgan Stanley restated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Truist Financial upped their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus target price of $175.78.

NVIDIA Trading Up 1.8%

Shares of NASDAQ NVDA opened at $157.75 on Monday. The stock has a market cap of $3.85 trillion, a price-to-earnings ratio of 50.89, a PEG ratio of 1.40 and a beta of 2.12. The business has a 50 day simple moving average of $130.96 and a 200 day simple moving average of $126.89. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $158.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

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 (EPS) 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 return on equity of 105.09% and a net margin of 51.69%. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. 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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