Denver Wealth Management Inc. Has $1.54 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

Denver Wealth Management Inc. grew its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 431.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,207 shares of the computer hardware maker's stock after acquiring an additional 11,533 shares during the period. NVIDIA accounts for 0.7% of Denver Wealth Management Inc.'s portfolio, making the stock its 20th largest holding. Denver Wealth Management Inc.'s holdings in NVIDIA were worth $1,540,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in shares of NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after acquiring an additional 3,721,331 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp raised its position in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was 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 directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. 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 value 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. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,520,246 shares of company stock valued at $660,253,045. 4.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVDA. Loop Capital boosted their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. UBS Group restated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Finally, Raymond James Financial upped their price objective on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.03.

NVIDIA Stock Up 1.2%

Shares of NVDA stock traded up $1.97 on Friday, hitting $166.07. 121,011,616 shares of the stock were exchanged, compared to its average volume of 266,143,885. The business has a 50-day moving average of $140.52 and a 200 day moving average of $128.60. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $167.84. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.05 trillion, a P/E ratio of 53.68, a price-to-earnings-growth ratio of 1.44 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the company posted $0.61 earnings per share. The business's revenue for the quarter was up 69.2% on a year-over-year basis. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

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.