NVIDIA Corporation (NASDAQ:NVDA) Stake Increased by Florida Financial Advisors LLC

Key Points

• Florida Financial Advisors LLC has increased its stake in NVIDIA Corporation by 24.8%, owning a total of $6.04 million worth of shares, making NVIDIA its 10th largest position.
• Recent trading activity shows significant insider sales, with Director Tench Coxe selling 1,000,000 shares for $142.8 million, representing a 3.61% decrease in his holdings.
• NVIDIA has received multiple "buy" ratings from analysts, with a consensus target price of $183.75 and a current average rating of "Moderate Buy".

Florida Financial Advisors LLC boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 24.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,684 shares of the computer hardware maker's stock after buying an additional 11,070 shares during the quarter. NVIDIA makes up about 2.4% of Florida Financial Advisors LLC's holdings, making the stock its 10th biggest holding. Florida Financial Advisors LLC's holdings in NVIDIA were worth $6,040,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. boosted its holdings in shares of NVIDIA by 0.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after acquiring an additional 864 shares during the last quarter. Centerpoint Advisory Group boosted its holdings in shares of NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares during the last quarter. GSB Wealth Management LLC boosted its holdings in shares of NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares during the last quarter. Variant Private Wealth LLC boosted its holdings in shares of NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares during the last quarter. Finally, Financial Perspectives Inc boosted its holdings in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several analyst reports. The Goldman Sachs Group assumed coverage on shares of NVIDIA in a report on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price for the company. TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Mizuho set a $192.00 price objective on shares of NVIDIA and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Oppenheimer lifted their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $183.75.

NVIDIA Price Performance

NASDAQ NVDA traded down $0.64 during mid-day trading on Monday, hitting $182.06. The stock had a trading volume of 138,011,711 shares, compared to its average volume of 244,601,375. The firm's 50 day moving average is $159.82 and its 200 day moving average is $133.62. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $183.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. 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.

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 business had revenue of $44.06 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 earnings per share. Equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal 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 given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's payout ratio is currently 1.29%.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,687,440 shares of company stock valued at $862,095,782. Corporate insiders own 4.17% of the company's stock.

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.