Fortem Financial Group LLC Has $8.97 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Fortem Financial Group LLC increased its holdings in NVIDIA Corporation by 2.4%, now owning 82,747 shares valued at approximately $8.97 million, making it its second largest investment.
• Although NVIDIA reported quarterly earnings, it missed its consensus EPS estimate by $0.06, posting $0.81 instead of the expected $0.87, while revenue exceeded expectations at $44.06 billion.
• Analysts have a consensus rating of "Moderate Buy" for NVIDIA, with a consensus target price of $183.75, indicating optimistic outlook despite some recent sell-offs by insiders.

Fortem Financial Group LLC lifted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,747 shares of the computer hardware maker's stock after buying an additional 1,912 shares during the quarter. NVIDIA makes up approximately 3.5% of Fortem Financial Group LLC's portfolio, making the stock its 2nd biggest holding. Fortem Financial Group LLC's holdings in NVIDIA were worth $8,968,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after buying an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after acquiring an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp raised its holdings in NVIDIA by 15.8% during the 4th 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 period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NVDA shares. Truist Financial increased their price target on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. TD Cowen boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Arete Research upgraded NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

NVIDIA Stock Up 0.7%

NVDA opened at $179.42 on Thursday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The stock has a market capitalization of $4.38 trillion, a P/E ratio of 57.88, a P/E/G ratio of 1.57 and a beta of 2.14. The business has a 50 day simple moving average of $158.02 and a 200-day simple moving average of $133.22. 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 the consensus estimate of $0.87 by ($0.06). The company 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 quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. On average, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 935,000 shares of the business'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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,537,440 shares of company stock worth $835,035,782. 4.17% of the stock is owned by insiders.

NVIDIA 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.

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