Destiny Wealth Partners LLC Buys 11,119 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Destiny Wealth Partners LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 25.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,437 shares of the computer hardware maker's stock after acquiring an additional 11,119 shares during the quarter. Destiny Wealth Partners LLC's holdings in NVIDIA were worth $6,008,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NVDA. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at $40,000. Copia Wealth Management purchased a new stake in shares of NVIDIA during the 4th quarter valued at $50,000. Finally, LSV Asset Management purchased a new stake in shares of NVIDIA during the 4th quarter valued at $54,000. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $143.83 on Monday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $153.13. The business has a 50-day moving average price of $126.37 and a 200 day moving average price of $126.43. The firm has a market cap of $3.51 trillion, a PE ratio of 46.40, a P/E/G ratio of 1.27 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter last year, the firm posted $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several analyst reports. Truist Financial increased their price objective on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 29th. DZ Bank upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Benchmark reiterated a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Finally, Wedbush reiterated an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.05.

Insiders Place Their Bets

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares in the company, valued at approximately $27,104,752.08. The trade was a 19.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business'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 sale, the director now owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,469,685 shares of company stock worth $349,669,962. Corporate insiders own 4.17% of the company's stock.

NVIDIA Company 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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