Essex LLC Grows Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Essex LLC boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,813 shares of the computer hardware maker's stock after buying an additional 3,261 shares during the period. NVIDIA accounts for about 0.9% of Essex LLC's investment portfolio, making the stock its 26th biggest holding. Essex LLC's holdings in NVIDIA were worth $3,990,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Altus Wealth Group LLC increased its position in shares of NVIDIA by 10.3% during the first quarter. Altus Wealth Group LLC now owns 21,096 shares of the computer hardware maker's stock worth $2,286,000 after purchasing an additional 1,970 shares in the last quarter. RedJay Asset Management Inc. acquired a new position in shares of NVIDIA during the first quarter worth $8,074,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of NVIDIA by 6.1% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 51,418 shares of the computer hardware maker's stock worth $5,573,000 after purchasing an additional 2,935 shares in the last quarter. Red Door Wealth Management LLC increased its position in shares of NVIDIA by 1.9% during the first quarter. Red Door Wealth Management LLC now owns 234,205 shares of the computer hardware maker's stock worth $25,383,000 after purchasing an additional 4,478 shares in the last quarter. Finally, Enzi Wealth increased its position in shares of NVIDIA by 28.2% during the first quarter. Enzi Wealth now owns 20,815 shares of the computer hardware maker's stock worth $2,215,000 after purchasing an additional 4,583 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded up $3.25 during trading on Monday, reaching $176.75. 139,407,827 shares of the company's stock traded hands, compared to its average volume of 155,064,304. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $177.00. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.31 trillion, a PE ratio of 57.02, a P/E/G ratio of 1.53 and a beta of 2.13. The company has a 50-day simple moving average of $151.77 and a 200-day simple moving average of $131.09.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the business earned $0.61 earnings per share. NVIDIA's revenue was up 69.2% on a year-over-year basis. As a group, analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insider Buying and Selling

In related news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction dated 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 directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $175.22, for a total value of $13,141,500.00. Following the completion of the sale, the chief executive officer owned 73,898,225 shares in the company, valued at approximately $12,948,446,984.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,264,800 shares of company stock worth $786,735,503. Insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Loop Capital upped their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Bank of America upped their price target on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and an average target price of $181.22.

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.