Callahan Advisors LLC Raises Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Callahan Advisors LLC increased its stake in NVIDIA Corporation by 13.7% during the first quarter, now holding 127,162 shares valued at approximately $13.8 million.
• CEO Jen Hsun Huang sold 75,000 shares for over $13.3 million, reducing his ownership by 0.10%, while CFO Colette Kress sold 27,640 shares worth nearly $4.9 million.
• NVIDIA has received a range of analyst ratings, including a newly initiated "buy" by Goldman Sachs with a target price of $185.00, while the average target among analysts stands at $183.75.

Callahan Advisors LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 13.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,162 shares of the computer hardware maker's stock after acquiring an additional 15,337 shares during the quarter. NVIDIA makes up 1.3% of Callahan Advisors LLC's portfolio, making the stock its 27th largest holding. Callahan Advisors LLC's holdings in NVIDIA were worth $13,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NVDA. Condor Capital Management grew its holdings in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares during the last quarter. Kelly Financial Services LLC grew its holdings in NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares during the last quarter. Foundry Financial Group Inc. grew its holdings in NVIDIA by 2.2% during the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after purchasing an additional 96 shares during the last quarter. Mendel Capital Management LLC grew its holdings in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after purchasing an additional 96 shares during the last quarter. Finally, Wallace Hart LLC grew its holdings in NVIDIA by 3.9% during the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after purchasing an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.16, for a total value of $13,362,000.00. Following the sale, the chief executive officer owned 73,523,225 shares in the company, valued at $13,098,897,766. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares in the company, valued at $526,501,340.56. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,537,440 shares of company stock worth $835,035,782 in the last quarter. Company insiders own 4.17% of the company's stock.

Analyst Ratings Changes

NVDA has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research note on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price on the stock. Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Finally, Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $183.75.

NVIDIA Trading Up 0.7%

NASDAQ NVDA opened at $179.42 on Thursday. The company has a fifty day simple moving average of $158.02 and a two-hundred day simple moving average of $133.22. The stock has a market cap of $4.38 trillion, a P/E ratio of 57.88, a P/E/G ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.30. 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 (NASDAQ:NVDA - Get Free Report) last posted its quarterly 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 during 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 company's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. On average, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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