Byrne Asset Management LLC Purchases 2,643 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Byrne Asset Management LLC grew its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,868 shares of the computer hardware maker's stock after purchasing an additional 2,643 shares during the quarter. NVIDIA comprises approximately 2.5% of Byrne Asset Management LLC's investment portfolio, making the stock its 5th biggest position. Byrne Asset Management LLC's holdings in NVIDIA were worth $3,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NVDA. SC&H Financial Advisors Inc. grew its stake in NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after acquiring an additional 80 shares in the last quarter. DecisionPoint Financial LLC grew its stake in shares of NVIDIA by 2.9% in the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock worth $386,000 after buying an additional 80 shares in the last quarter. BCR Wealth Strategies LLC grew its stake in shares of NVIDIA by 3.1% in the 4th quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock worth $391,000 after buying an additional 89 shares in the last quarter. Condor Capital Management grew its stake in shares of NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after buying an additional 89 shares in the last quarter. Finally, Squire Investment Management Company LLC boosted its stake in shares of NVIDIA by 4.0% during the 4th quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock worth $317,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NVDA shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Barclays lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. One research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $175.78.

NVIDIA Trading Up 1.8%

NASDAQ NVDA opened at $157.75 on Friday. 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 firm has a market cap of $3.85 trillion, a PE ratio of 50.89, a price-to-earnings-growth ratio of 1.40 and a beta of 2.12. The company has a 50 day moving average price of $130.96 and a 200 day moving average price of $126.97. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $158.71.

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 for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS. As a group, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS 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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the transaction, the director now directly owns 201,044 shares in the company, valued at approximately $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,792,267 shares of company stock valued at $544,823,117 in the last ninety days. Insiders own 4.17% of the company's stock.

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.

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