Davidson Investment Advisors Has $23.87 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Davidson Investment Advisors significantly increased its stake in NVIDIA Corporation by 4,808.1% during the first quarter, now owning 220,275 shares valued at approximately $23.87 million.
• NVIDIA reported a 69.2% increase in revenue year-over-year for the latest quarter, with EPS of $0.81, which missed the consensus estimate of $0.87.
• The company announced a quarterly dividend of $0.01 per share, with a dividend yield of 0.0% and a payout ratio of 1.29%.

Davidson Investment Advisors lifted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4,808.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 220,275 shares of the computer hardware maker's stock after buying an additional 215,787 shares during the quarter. NVIDIA comprises 1.2% of Davidson Investment Advisors' investment portfolio, making the stock its 27th largest holding. Davidson Investment Advisors' holdings in NVIDIA were worth $23,873,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NVDA. Wealth Group Ltd. grew its holdings 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 purchasing an additional 100 shares during the last quarter. Tallon Kerry Patrick acquired a new position in NVIDIA during the fourth quarter valued at approximately $972,000. Brighton Jones LLC grew its holdings in NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after purchasing an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in NVIDIA by 1.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after purchasing an additional 22,929 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in NVIDIA by 6.7% during the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock valued at $7,842,000 after purchasing an additional 3,653 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

NVIDIA stock opened at $173.72 on Friday. 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 stock has a fifty day moving average price of $155.30 and a two-hundred day moving average price of $132.32. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.30. The firm has a market capitalization of $4.24 trillion, a P/E ratio of 56.04, a P/E/G ratio of 1.57 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Analyst Ratings Changes

NVDA has been the topic of several analyst reports. Rosenblatt Securities increased their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Benchmark reissued a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Loop Capital increased their price objective on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, Needham & Company LLC increased their price objective on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

Insider Transactions at NVIDIA

In other news, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the sale, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 27,650 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,339,800 shares of company stock worth $800,141,003. Insiders own 4.17% of the company's stock.

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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