NVIDIA Corporation (NASDAQ:NVDA) Stock Position Raised by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group LLC has increased its stake in NVIDIA Corporation by 0.5% in Q1, owning a total of 560,364 shares valued at approximately $60.7 million.
• NVIDIA reported quarterly earnings of $0.81 per share, missing analyst estimates by $0.06, but saw its revenue grow by 69.2% year-over-year to $44.06 billion.
• The company's stock currently holds a market cap of $4.46 trillion and has an average price target of $183.75 from analysts, with a majority rating it as a "Moderate Buy".

Bleakley Financial Group LLC lifted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 560,364 shares of the computer hardware maker's stock after buying an additional 2,606 shares during the period. NVIDIA comprises approximately 1.9% of Bleakley Financial Group LLC's portfolio, making the stock its 10th biggest position. Bleakley Financial Group LLC's holdings in NVIDIA were worth $60,732,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NVDA. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter valued at about $50,000. LSV Asset Management bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $54,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at approximately $51,000. Bruce G. Allen Investments LLC grew its stake in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the period. Finally, Delos Wealth Advisors LLC grew its stake in shares of NVIDIA by 134.8% in 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 during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the transaction, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $182.38, for a total transaction of $13,678,500.00. Following the transaction, the chief executive officer owned 73,223,225 shares of the company's stock, valued at $13,354,451,775.50. This represents a 0.10% 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. Insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Rosenblatt Securities upped their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Mizuho set a $192.00 price objective on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group started coverage on NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective on the stock. Needham & Company LLC upped their price objective on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, Raymond James Financial increased their price target on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

NVIDIA Trading Down 0.4%

Shares of NASDAQ:NVDA traded down $0.64 during mid-day trading on Monday, reaching $182.06. 138,011,711 shares of the company's stock were exchanged, compared to its average volume of 244,601,375. The firm has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.73, a PEG ratio of 1.61 and a beta of 2.14. The business's fifty day moving average price is $159.82 and its 200-day moving average price is $133.62. 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 Corporation has a twelve month low of $86.62 and a twelve month high of $183.88.

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 for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business earned $0.61 EPS. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. On average, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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