Clark Asset Management LLC Purchases 4,686 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Clark Asset Management LLC increased its holdings in NVIDIA by **40.8%**, acquiring an additional **4,686 shares** during the 1st quarter, bringing their total to **16,170 shares** valued at approximately **$1.75 million**.
• Significant institutional activity includes FMR LLC acquiring **6.67 million shares**, raising its position by **0.7%** and now holding **over 1 billion shares** valued at **$134.88 billion**.
• NVIDIA's stock currently has a **consensus rating of "Moderate Buy"** with a **price target of $181.22**, following **increased ratings from several analysts** who have raised their price targets for the stock.

Clark Asset Management LLC grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 40.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,170 shares of the computer hardware maker's stock after purchasing an additional 4,686 shares during the quarter. Clark Asset Management LLC's holdings in NVIDIA were worth $1,753,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Tacita Capital Inc bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the fourth quarter worth $38,000. Copia Wealth Management acquired a new stake in NVIDIA during the fourth quarter valued at $50,000. LSV Asset Management purchased a new position in shares of NVIDIA in the fourth quarter worth about $54,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the 1st quarter valued at approximately $51,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVDA has been the subject of several research reports. Loop Capital upped their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Citigroup boosted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. TD Cowen boosted their price target on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average price target of $182.03.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,264,800 shares of company stock worth $786,735,503 over the last ninety days. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded up $0.01 during midday trading on Thursday, hitting $179.28. The stock had a trading volume of 78,538,820 shares, compared to its average volume of 248,032,719. The stock has a 50 day simple moving average of $153.55 and a 200-day simple moving average of $131.72. 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 company has a market capitalization of $4.37 trillion, a PE ratio of 57.69, a P/E/G ratio of 1.55 and a beta of 2.13. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30.

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

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA's payout ratio is currently 1.29%.

NVIDIA Company 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.