CFC Planning Co LLC Purchases 1,975 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• CFC Planning Co LLC increased its holdings in NVIDIA Corporation by 32.5%, adding 1,975 shares, and now owns 8,054 shares valued at approximately $873,000.
• Several research firms have raised their price targets for NVIDIA, with Raymond James setting a new target of $165.00 and Barclays reaching $200.00, indicating strong market confidence in the stock.
• NVIDIA's quarterly earnings report showed a 69.2% year-over-year revenue increase to $44.06 billion, although it missed EPS estimates by $0.06.

CFC Planning Co LLC increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 32.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,054 shares of the computer hardware maker's stock after purchasing an additional 1,975 shares during the quarter. CFC Planning Co LLC's holdings in NVIDIA were worth $873,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. MJP Associates Inc. ADV raised its holdings in shares of NVIDIA by 1.9% in the 1st quarter. MJP Associates Inc. ADV now owns 96,444 shares of the computer hardware maker's stock valued at $10,453,000 after purchasing an additional 1,816 shares during the period. Bernardo Wealth Planning LLC raised its holdings in shares of NVIDIA by 10.6% in the 1st quarter. Bernardo Wealth Planning LLC now owns 9,564 shares of the computer hardware maker's stock valued at $1,037,000 after purchasing an additional 918 shares during the period. Cerity Partners LLC raised its holdings in NVIDIA by 16.5% in the 1st quarter. Cerity Partners LLC now owns 10,806,277 shares of the computer hardware maker's stock valued at $1,166,476,000 after acquiring an additional 1,526,640 shares during the period. Arcus Capital Partners LLC raised its holdings in NVIDIA by 405.3% in the 1st quarter. Arcus Capital Partners LLC now owns 7,306 shares of the computer hardware maker's stock valued at $792,000 after acquiring an additional 5,860 shares during the period. Finally, TRU Independence Asset Management 2 LLC bought a new position in NVIDIA in the 1st quarter valued at about $1,010,000. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Raymond James Financial increased their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Barclays increased their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Citigroup increased their price target on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Arete Research raised shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $182.03.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $178.26 on Wednesday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $4.35 trillion, a P/E ratio of 57.50, a P/E/G ratio of 1.59 and a beta of 2.14. The company's 50 day moving average price is $157.13 and its two-hundred day moving average price is $132.90.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on 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 approximately $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,489,800 shares of company stock worth $826,553,003 in the last three months. 4.17% of the stock is currently owned by company insiders.

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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