Focus Financial Network Inc. Has $205.63 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Focus Financial Network Inc. increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,897,135 shares of the computer hardware maker's stock after buying an additional 69,330 shares during the period. NVIDIA accounts for 8.4% of Focus Financial Network Inc.'s holdings, making the stock its biggest holding. Focus Financial Network Inc.'s holdings in NVIDIA were worth $205,630,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NVDA. Norges Bank bought a new position in NVIDIA during the fourth quarter worth $43,515,504,000. GAMMA Investing LLC grew its holdings in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the last quarter. Northern Trust Corp grew its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. DA Davidson boosted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Tigress Financial restated a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Susquehanna restated a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Truist Financial raised their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $175.78.

Insider Activity

In related news, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director now directly owns 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 20,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $144.21, for a total transaction of $2,884,200.00. Following the sale, the chief financial officer now owns 173,060 shares of the company's stock, valued at $24,956,982.60. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,393,863 shares of company stock valued at $483,709,832 over the last three months. Insiders own 4.17% of the company's stock.

NVIDIA Trading Up 4.3%

NASDAQ:NVDA opened at $154.31 on Thursday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $154.45. 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 company's 50-day simple moving average is $128.75 and its 200 day simple moving average is $126.78. The firm has a market capitalization of $3.77 trillion, a P/E ratio of 49.78, a PEG ratio of 1.31 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during 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 firm's quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. As a group, analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.29%.

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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