Crosspoint Financial LLC Purchases New Shares in NVIDIA Corporation (NASDAQ:NVDA)

Crosspoint Financial LLC purchased a new stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,757 shares of the computer hardware maker's stock, valued at approximately $407,000. NVIDIA makes up 1.2% of Crosspoint Financial LLC's portfolio, making the stock its 19th largest holding.

Several other large investors have also added to or reduced their stakes in NVDA. Wealth Group Ltd. lifted its position in NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after buying an additional 100 shares during the period. Brighton Jones LLC raised its position in shares of NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after purchasing an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of NVIDIA by 1.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock worth $315,100,000 after purchasing an additional 22,929 shares during the last quarter. Highview Capital Management LLC DE raised its position in shares of NVIDIA by 6.7% in the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after purchasing an additional 3,653 shares during the last quarter. Finally, Hudson Value Partners LLC raised its position in shares of NVIDIA by 30.7% in the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock worth $6,805,000 after purchasing an additional 11,900 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Up 0.7%

Shares of NVDA opened at $179.42 on Thursday. The business's 50 day simple moving average is $158.02 and its 200-day simple moving average is $133.22. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30. The stock has a market capitalization of $4.38 trillion, a price-to-earnings ratio of 57.88, a price-to-earnings-growth 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.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business 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 business's revenue was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. As a group, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 dividend on an annualized basis and a yield of 0.0%. NVIDIA's dividend payout ratio is 1.29%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NVDA shares. Morgan Stanley lifted their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Loop Capital lifted their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Barclays boosted their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $183.75.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.16, for a total transaction of $13,362,000.00. Following the sale, the chief executive officer owned 73,523,225 shares of the company's stock, valued at $13,098,897,766. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 27,640 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,537,440 shares of company stock valued at $835,035,782. 4.17% of the stock is owned by insiders.

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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