Edgestream Partners L.P. Buys 98,401 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Edgestream Partners L.P. significantly increased its stake in NVIDIA Corporation by 1,180.9%, acquiring an additional 98,401 shares, now holding a total of 106,734 shares valued at approximately $11.57 million.
• NVIDIA reported earnings of $0.81 per share, missing estimates, despite a revenue of $44.06 billion for the quarter, which exceeded expectations by $0.97 billion.
• Institutional investors own 65.27% of NVIDIA's stock, and various analysts have set target prices for the stock ranging from $160.00 to $200.00 with a consensus rating of "Moderate Buy."

Edgestream Partners L.P. grew its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1,180.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,734 shares of the computer hardware maker's stock after purchasing an additional 98,401 shares during the quarter. NVIDIA comprises approximately 0.4% of Edgestream Partners L.P.'s portfolio, making the stock its 23rd largest holding. Edgestream Partners L.P.'s holdings in NVIDIA were worth $11,568,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NVDA. Copia Wealth Management purchased a new stake in shares of NVIDIA in the fourth quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA during the first quarter worth about $51,000. Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares during the period. LSV Asset Management acquired a new position in shares of NVIDIA during the fourth quarter worth about $54,000. Finally, Delos Wealth Advisors LLC increased its stake in shares of NVIDIA by 134.8% during the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock worth $66,000 after acquiring an additional 283 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NVDA traded down $0.64 during mid-day trading on Monday, hitting $182.06. The company's stock had a trading volume of 138,011,711 shares, compared to its average volume of 244,601,375. The firm has a 50-day moving average price of $159.82 and a 200 day moving average price of $133.62. The stock has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.73, a PEG ratio of 1.61 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 Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.88.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. On average, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NVDA shares. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Truist Financial increased their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Oppenheimer increased their price target on shares of NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Needham & Company LLC increased their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $183.75.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,687,440 shares of company stock worth $862,095,782 in the last 90 days. 4.17% of the stock is owned by corporate insiders.

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.