Eukles Asset Management Acquires 2,022 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Eukles Asset Management has increased its stake in NVIDIA Corporation by 1.5% during the first quarter, bringing its total holdings to approximately $15.12 million, which represents 6.6% of its portfolio.
• Major analysts have recently raised their price targets for NVIDIA, with Bank of America increasing theirs to $220.00, while the average consensus price target is $181.22.
• Insider sales were reported, including EVP Ajay K. Puri selling 168,195 shares for over $25 million, indicating significant insider trading activity at the company.

Eukles Asset Management grew its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 139,539 shares of the computer hardware maker's stock after buying an additional 2,022 shares during the quarter. NVIDIA makes up about 6.6% of Eukles Asset Management's investment portfolio, making the stock its largest holding. Eukles Asset Management's holdings in NVIDIA were worth $15,123,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NVDA. Capital Investment Advisory Services LLC increased its holdings in shares of NVIDIA by 16.6% in the 1st quarter. Capital Investment Advisory Services LLC now owns 269,599 shares of the computer hardware maker's stock worth $29,219,000 after purchasing an additional 38,417 shares in the last quarter. Element Wealth LLC grew its holdings in NVIDIA by 15.0% during the first quarter. Element Wealth LLC now owns 4,207 shares of the computer hardware maker's stock valued at $456,000 after purchasing an additional 548 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of NVIDIA by 24.3% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,984 shares of the computer hardware maker's stock valued at $432,000 after acquiring an additional 779 shares in the last quarter. Strategic Blueprint LLC lifted its position in shares of NVIDIA by 0.6% in the first quarter. Strategic Blueprint LLC now owns 247,844 shares of the computer hardware maker's stock valued at $26,861,000 after acquiring an additional 1,395 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in shares of NVIDIA by 2.6% in the first quarter. Brookstone Capital Management now owns 917,836 shares of the computer hardware maker's stock valued at $99,475,000 after acquiring an additional 23,603 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $4.15 on Friday, hitting $173.72. The company's stock had a trading volume of 203,669,565 shares, compared to its average volume of 248,821,531. The firm has a fifty day moving average price of $154.45 and a 200-day moving average price of $132.03. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30. The company has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 1.58 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

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 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 firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company earned $0.61 EPS. NVIDIA's revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NVDA shares. Raymond James Financial boosted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. Bank of America raised their price objective on NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Oppenheimer lifted their price target on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average target price of $182.03.

Insider Activity

In other news, CFO Colette Kress sold 27,650 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at $510,023,939.24. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director A Brooke Seawell sold 48,792 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock worth $800,141,003 over the last ninety days. Corporate 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.