7,479 Shares in NVIDIA Corporation (NASDAQ:NVDA) Purchased by Financial Gravity Asset Management Inc.

Key Points

• Financial Gravity Asset Management Inc. has invested $811,000 in NVIDIA Corporation, acquiring 7,479 shares in the first quarter.
• NVIDIA reported a quarterly earnings per share of $0.81, missing estimates but showing a 69.2% increase in revenue year-over-year to $44.06 billion.
• Institutional investors own 65.27% of NVIDIA's stock, with several significant firms increasing their positions in the company.

Financial Gravity Asset Management Inc. purchased a new position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,479 shares of the computer hardware maker's stock, valued at approximately $811,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Condor Capital Management boosted its position in shares of NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares in the last quarter. Kelly Financial Services LLC boosted its holdings in shares of NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after buying an additional 94 shares during the period. Foundry Financial Group Inc. boosted its holdings in shares of NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock worth $589,000 after buying an additional 96 shares during the period. Mendel Capital Management LLC boosted its holdings in shares of NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after buying an additional 96 shares during the period. Finally, Wallace Hart LLC boosted its holdings in shares of NVIDIA by 3.9% in the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Performance

NVDA stock traded down $1.74 on Tuesday, reaching $178.26. 155,486,898 shares of the company were exchanged, compared to its average volume of 164,064,272. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The stock's fifty day moving average price is $156.27 and its 200 day moving average price is $132.58. The firm has a market capitalization of $4.35 trillion, a PE ratio of 57.50, a PEG ratio of 1.59 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 (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The firm's quarterly revenue was up 69.2% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.16, for a total transaction of $13,362,000.00. Following the sale, the chief executive officer owned 73,523,225 shares in the company, valued at $13,098,897,766. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 27,650 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction 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 approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,489,800 shares of company stock worth $826,553,003 in the last quarter. Corporate insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on NVDA shares. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Piper Sandler reissued an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. DA Davidson increased their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Morgan Stanley increased their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

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.