Centennial Wealth Advisory LLC Increases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Centennial Wealth Advisory LLC raised its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,446 shares of the computer hardware maker's stock after purchasing an additional 1,695 shares during the quarter. NVIDIA accounts for about 1.0% of Centennial Wealth Advisory LLC's portfolio, making the stock its 17th biggest position. Centennial Wealth Advisory LLC's holdings in NVIDIA were worth $2,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Tacita Capital Inc bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter valued at $38,000. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter valued at $50,000. LSV Asset Management bought a new position in NVIDIA during the fourth quarter valued at $54,000. Finally, Bruce G. Allen Investments LLC grew its holdings in NVIDIA by 198.2% during the first 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. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 50,514 shares of NVIDIA stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $158.37, for a total transaction of $7,999,902.18. Following the sale, the director directly owned 1,974,784 shares of the company's stock, valued at approximately $312,746,542.08. The trade was a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $158.35, for a total value of $11,876,250.00. Following the sale, the chief executive officer directly owned 75,023,225 shares in the company, valued at approximately $11,879,927,678.75. The trade was 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 have sold 4,296,844 shares of company stock worth $624,019,677. Insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research reports. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a report on Wednesday, March 19th. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, DA Davidson raised their price target on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $176.47.

NVIDIA Trading Up 0.7%

Shares of NVDA traded up $1.12 during trading hours on Tuesday, hitting $159.36. The company had a trading volume of 63,866,798 shares, compared to its average volume of 267,054,211. The firm has a market cap of $3.89 trillion, a P/E ratio of 51.41, a P/E/G ratio of 1.41 and a beta of 2.13. The stock's 50 day moving average price is $137.37 and its 200 day moving average price is $127.97. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $160.98.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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 business had revenue of $44.06 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. On average, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. 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.