Burling Wealth Partners LLC Acquires 9,016 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Burling Wealth Partners LLC lifted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,817 shares of the computer hardware maker's stock after buying an additional 9,016 shares during the quarter. NVIDIA comprises approximately 2.2% of Burling Wealth Partners LLC's holdings, making the stock its 11th biggest position. Burling Wealth Partners LLC's holdings in NVIDIA were worth $10,385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Astoria Portfolio Advisors LLC. grew its position in shares of NVIDIA by 0.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after purchasing an additional 864 shares in the last quarter. Centerpoint Advisory Group increased its holdings in shares of NVIDIA by 2.5% during the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after purchasing an additional 943 shares during the period. GSB Wealth Management LLC increased its holdings in shares of NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after purchasing an additional 1,043 shares during the period. Variant Private Wealth LLC increased its holdings in shares of NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares during the period. Finally, Financial Perspectives Inc increased its holdings in shares of NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the company'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 transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,837,440 shares of company stock worth $889,404,782 over the last three months. 4.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVDA. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Benchmark reaffirmed a "buy" rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Jefferies Financial Group raised their target price on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Finally, Bank of America lifted their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $186.33.

NVIDIA Trading Down 0.9%

NVDA stock traded down $1.57 during midday trading on Friday, hitting $180.45. The stock had a trading volume of 156,219,545 shares, compared to its average volume of 153,661,792. The firm has a market cap of $4.40 trillion, a P/E ratio of 58.21, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. 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 Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The business has a fifty day moving average price of $163.96 and a two-hundred day moving average price of $135.45.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its 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). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 EPS. On average, sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is currently 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.