First Horizon Advisors Inc. Increases Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• First Horizon Advisors Inc. increased its holdings in NVIDIA Corporation by 179.6%, acquiring an additional 143,749 shares, bringing its total to 223,766 shares valued at approximately $24.25 million.
• NVIDIA's stock recently hit $176.75, with a significant trading volume of over 139 million shares, reflecting investor interest amid its robust financial performance and analyst upgrades.
• The company reported a 69.2% increase in quarterly revenue year-over-year, totaling $44.06 billion, although it missed earnings expectations with an EPS of $0.81.

First Horizon Advisors Inc. boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 179.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 223,766 shares of the computer hardware maker's stock after purchasing an additional 143,749 shares during the quarter. First Horizon Advisors Inc.'s holdings in NVIDIA were worth $24,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Condor Capital Management lifted its holdings in NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after purchasing an additional 89 shares during the period. Kelly Financial Services LLC grew its position in NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares in the last quarter. Foundry Financial Group Inc. grew its position in 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 acquiring an additional 96 shares in the last quarter. Mendel Capital Management LLC grew its holdings in NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after purchasing an additional 96 shares during the last quarter. Finally, Wallace Hart LLC increased its position in NVIDIA by 3.9% in the 4th 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 Up 0.3%

NASDAQ NVDA traded up $0.56 during midday trading on Thursday, hitting $179.83. 66,232,539 shares of the company traded hands, compared to its average volume of 247,988,000. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The company's 50-day simple moving average is $153.55 and its 200-day simple moving average is $131.72. The company has a market cap of $4.39 trillion, a PE ratio of 58.10, a price-to-earnings-growth ratio of 1.55 and a beta of 2.13. 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 released 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). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 earnings per share. As a group, equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Monday, July 28th. The shares were sold at an average price of $175.22, for a total transaction of $13,141,500.00. Following the completion of the sale, the chief executive officer directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 27,650 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,264,800 shares of company stock valued at $786,735,503. Insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Mizuho set a $192.00 price target on NVIDIA and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Bank of America increased their target price on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Jefferies Financial Group boosted their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Finally, Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. 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 issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

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.