Coyle Financial Counsel LLC Buys 1,496 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Coyle Financial Counsel LLC increased its stake in NVIDIA Corporation by 6.5%, buying an additional 1,496 shares in the first quarter, bringing its total holdings to 24,514 shares valued at approximately $2.65 million.
• NVIDIA recently reported a $0.81 earnings per share, falling short of the consensus estimate of $0.87, despite a substantial revenue increase of 69.2% year-over-year, totaling $44.06 billion.
• Several research analysts have raised their price targets for NVIDIA, with Bank of America setting a new target of $220.00 and most analysts rating the stock as a "Moderate Buy."

Coyle Financial Counsel LLC lifted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,514 shares of the computer hardware maker's stock after buying an additional 1,496 shares during the quarter. NVIDIA comprises 0.8% of Coyle Financial Counsel LLC's portfolio, making the stock its 19th biggest holding. Coyle Financial Counsel LLC's holdings in NVIDIA were worth $2,657,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Astoria Portfolio Advisors LLC. grew its holdings in NVIDIA by 0.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after buying an additional 864 shares in the last quarter. Centerpoint Advisory Group grew its holdings in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after buying an additional 943 shares in the last quarter. GSB Wealth Management LLC grew its holdings in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after buying an additional 1,043 shares in the last quarter. Variant Private Wealth LLC grew its holdings in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after buying an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc grew its holdings in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after buying an additional 1,265 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Up 0.8%

Shares of NASDAQ:NVDA opened at $180.77 on Friday. The company has a market cap of $4.41 trillion, a P/E ratio of 58.31, a P/E/G ratio of 1.58 and a beta of 2.14. The stock's 50-day moving average is $158.85 and its 200-day moving average is $133.52. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during 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 firm's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. Equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share 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 paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's payout ratio is 1.29%.

Insider Activity

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 sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,537,440 shares of company stock worth $835,035,782. 4.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on NVDA. Raymond James Financial raised their price target on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. Barclays raised their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Arete Research raised NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Bank of America raised their price objective on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Finally, DA Davidson raised their price objective on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $183.75.

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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