Cloud Capital Management LLC Makes New $255,000 Investment in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Cloud Capital Management LLC acquired a new position in NVIDIA Corporation during the 1st quarter, purchasing 2,356 shares valued at approximately $255,000.
• NVIDIA reported a Q1 earnings miss with an EPS of $0.81, falling short of the consensus estimate of $0.87, although its revenue of $44.06 billion exceeded expectations.
• Several institutional investors recently increased their stakes in NVIDIA, with institutional ownership now at 65.27% of the company's stock.

Cloud Capital Management LLC acquired a new position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,356 shares of the computer hardware maker's stock, valued at approximately $255,000.

Several other hedge funds also recently added to or reduced their stakes in NVDA. Argentarii LLC boosted its position in shares of NVIDIA by 3.4% during the first quarter. Argentarii LLC now owns 106,532 shares of the computer hardware maker's stock worth $11,546,000 after buying an additional 3,510 shares during the period. Jackson Wealth Management LLC lifted its holdings in NVIDIA by 4.6% during the 1st quarter. Jackson Wealth Management LLC now owns 74,863 shares of the computer hardware maker's stock worth $8,114,000 after buying an additional 3,322 shares during the last quarter. Meridian Investment Counsel Inc. lifted its holdings in NVIDIA by 0.9% during the 1st quarter. Meridian Investment Counsel Inc. now owns 18,983 shares of the computer hardware maker's stock worth $2,057,000 after buying an additional 175 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its holdings in NVIDIA by 0.8% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 47,788 shares of the computer hardware maker's stock worth $5,179,000 after buying an additional 388 shares during the last quarter. Finally, SwitchPoint Financial Planning LLC increased its position in shares of NVIDIA by 6.1% during the first quarter. SwitchPoint Financial Planning LLC now owns 4,016 shares of the computer hardware maker's stock worth $435,000 after purchasing an additional 230 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 sale, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,339,800 shares of company stock worth $800,141,003. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Down 2.3%

NASDAQ NVDA traded down $4.15 during trading hours on Friday, hitting $173.72. The company had a trading volume of 203,669,565 shares, compared to its average volume of 153,436,048. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30. The company has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 56.04, a P/E/G ratio of 1.57 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. The firm's 50 day moving average is $155.30 and its 200 day moving average is $132.32.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 in the prior year, the company posted $0.61 earnings per share. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. 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 (DPR) is presently 1.29%.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. Piper Sandler restated an "overweight" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Bank of America boosted their target price on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. TD Cowen boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Oppenheimer boosted their target price on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Benchmark reiterated a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

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.