Flower City Capital Has $910,000 Stake in NVIDIA Corporation (NASDAQ:NVDA)

Flower City Capital grew its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 86.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,400 shares of the computer hardware maker's stock after buying an additional 3,906 shares during the period. NVIDIA accounts for about 0.6% of Flower City Capital's portfolio, making the stock its 14th biggest holding. Flower City Capital's holdings in NVIDIA were worth $910,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GSB Wealth Management LLC increased its stake in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC increased its stake in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after acquiring an additional 3,206 shares during the period. Financial Perspectives Inc increased its stake in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after acquiring an additional 1,265 shares during the period. Hickory Point Bank & Trust bought a new position in NVIDIA during the 4th quarter worth $2,272,000. Finally, Pegasus Asset Management Inc. increased its stake in NVIDIA by 0.3% during the 1st quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock worth $8,318,000 after acquiring an additional 197 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Needham & Company LLC restated a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 price objective on NVIDIA in a research note on Wednesday, March 19th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Rosenblatt Securities raised their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $177.03.

NVIDIA Trading Up 0.5%

NASDAQ NVDA opened at $164.92 on Friday. The business's 50-day moving average price is $141.53 and its two-hundred day moving average price is $128.77. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $167.89. The firm has a market capitalization of $4.02 trillion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.45 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

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

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,520,246 shares of company stock valued at $660,253,045 over the last 90 days. 4.17% of the stock is owned by company insiders.

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.

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