Barnes Pettey Financial Advisors LLC Buys 1,700 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Barnes Pettey Financial Advisors LLC lifted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,135 shares of the computer hardware maker's stock after acquiring an additional 1,700 shares during the period. NVIDIA makes up approximately 1.8% of Barnes Pettey Financial Advisors LLC's investment portfolio, making the stock its 14th largest position. Barnes Pettey Financial Advisors LLC's holdings in NVIDIA were worth $2,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Group Ltd. lifted its holdings in shares of NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after acquiring an additional 100 shares during the last quarter. Tallon Kerry Patrick bought a new position in NVIDIA in the 4th quarter valued at approximately $972,000. Capital & Planning LLC raised its holdings in NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after buying an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. raised its holdings in NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after buying an additional 104 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after buying an additional 35,815 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 1.5%

NVIDIA stock traded up $2.60 during trading hours on Thursday, hitting $173.38. The stock had a trading volume of 87,293,891 shares, compared to its average volume of 251,909,938. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $4.23 trillion, a P/E ratio of 55.93, a price-to-earnings-growth ratio of 1.47 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.25. The stock's 50-day moving average price is $149.41 and its 200-day moving average price is $130.53.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its 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). The business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued 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 yield of 0.02%. NVIDIA's dividend payout ratio is presently 1.29%.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,114,800 shares of company stock valued at $760,553,003 in the last 90 days. 4.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Jefferies Financial Group raised their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Bank of America raised their price target on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Loop Capital upped their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Finally, Mizuho set a $192.00 price target on shares of NVIDIA and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average 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.