Clifford Swan Investment Counsel LLC Acquires 1,668 Shares of NVIDIA Corporation $NVDA

Key Points

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Clifford Swan Investment Counsel LLC increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,769 shares of the computer hardware maker's stock after acquiring an additional 1,668 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in NVIDIA were worth $7,128,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Integrity Investment Advisors LLC bought a new stake in NVIDIA during the first quarter worth $1,094,000. WT Wealth Management raised its stake in shares of NVIDIA by 23.3% in the first quarter. WT Wealth Management now owns 67,845 shares of the computer hardware maker's stock valued at $7,353,000 after buying an additional 12,803 shares during the period. HighPoint Advisor Group LLC raised its stake in shares of NVIDIA by 3.3% in the first quarter. HighPoint Advisor Group LLC now owns 810,936 shares of the computer hardware maker's stock valued at $88,408,000 after buying an additional 25,638 shares during the period. Crestwood Advisors Group LLC raised its stake in shares of NVIDIA by 48.0% in the first quarter. Crestwood Advisors Group LLC now owns 493,984 shares of the computer hardware maker's stock valued at $53,538,000 after buying an additional 160,242 shares during the period. Finally, Kingsman Wealth Management Inc. bought a new stake in shares of NVIDIA in the first quarter valued at $17,428,000. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was 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 represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,912,440 shares of company stock worth $902,886,782 over the last 90 days. 4.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVDA. Needham & Company LLC boosted their target price on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Citigroup restated an "overweight" rating on shares of NVIDIA in a research note on Monday. Finally, Loop Capital boosted their target price on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, five have assigned 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 an average price target of $187.61.

NVIDIA Trading Up 0.9%

NVDA opened at $182.01 on Tuesday. The business has a 50 day simple moving average of $164.75 and a two-hundred day simple moving average of $135.95. The firm has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.71, a PEG ratio of 1.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given 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 0.0%. NVIDIA's dividend payout ratio is currently 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.

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