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Crown Wealth Group LLC Raises Holdings in NVIDIA Corporation $NVDA

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Key Points

  • Crown Wealth Group LLC increased its NVIDIA stake by 7.0% in the first quarter, buying 3,224 additional shares and bringing its total to 49,486 shares valued at about $8.63 million.
  • NVIDIA reported strong quarterly results, with EPS of $1.87 and revenue of $81.61 billion, both above analyst expectations; revenue rose 85.2% year over year.
  • The company also boosted shareholder returns and capital allocation, raising its quarterly dividend to $0.25 per share and authorizing an $80 billion stock buyback program.
  • MarketBeat previews the top five stocks to own by August 1st.

Crown Wealth Group LLC increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,486 shares of the computer hardware maker's stock after purchasing an additional 3,224 shares during the quarter. NVIDIA makes up 2.5% of Crown Wealth Group LLC's portfolio, making the stock its 10th largest holding. Crown Wealth Group LLC's holdings in NVIDIA were worth $8,630,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Lifetime Wealth Management P.C. bought a new position in shares of NVIDIA during the fourth quarter valued at $26,000. Longview Financial Advisors Inc. bought a new position in NVIDIA during the 1st quarter valued at about $27,000. Longfellow Investment Management Co. LLC boosted its position in NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker's stock valued at $33,000 after buying an additional 67 shares in the last quarter. Spurstone Advisory Services LLC acquired a new stake in shares of NVIDIA during the second quarter worth approximately $40,000. Finally, Inspire Investing LLC bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Performance

NVDA opened at $194.83 on Friday. The company has a market capitalization of $4.71 trillion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 0.43 and a beta of 2.21. The business's 50-day moving average price is $210.22 and its two-hundred day moving average price is $193.51. NVIDIA Corporation has a 1 year low of $157.34 and a 1 year high of $236.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 2.85.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The business had revenue of $81.61 billion for the quarter, compared to analyst estimates of $78.42 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The firm's revenue for the quarter was up 85.2% on a year-over-year basis. Equities analysts expect that NVIDIA Corporation will post 8.69 EPS for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Thursday, June 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, June 4th. This is a boost from NVIDIA's previous quarterly dividend of $0.01. NVIDIA's payout ratio is presently 15.31%.

NVIDIA announced that its board has authorized a stock buyback program on Wednesday, May 20th that permits the company to buyback $80.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NVDA shares. Mizuho set a $300.00 price objective on NVIDIA in a research note on Thursday, May 21st. BTIG Research began coverage on NVIDIA in a report on Wednesday, April 15th. They issued a "buy" rating for the company. DA Davidson reiterated a "buy" rating and set a $300.00 price target on shares of NVIDIA in a research report on Monday, June 1st. JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $265.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, May 21st. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $315.00 price target (up from $265.00) on shares of NVIDIA in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, NVIDIA presently has a consensus rating of "Buy" and an average target price of $303.84.

Read Our Latest Research Report on NVDA

Key Headlines Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 885,000 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $210.17, for a total transaction of $186,000,450.00. Following the completion of the sale, the director owned 5,207,271 shares in the company, valued at $1,094,412,146.07. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen C. Neal sold 15,500 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total value of $3,343,815.00. Following the completion of the sale, the director owned 116,135 shares of the company's stock, valued at $25,053,803.55. This trade represents a 11.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,901,125 shares of company stock valued at $410,583,015. 3.94% of the stock is owned by insiders.

About NVIDIA

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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