Gateway Wealth Partners LLC Increases Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Gateway Wealth Partners LLC increased its holdings in NVIDIA Corporation by 9.6% during the first quarter, owning a total of 29,540 shares valued at approximately $3.2 million.
• Several major hedge funds, including FMR LLC and Geode Capital Management, have also made significant investments in NVIDIA, contributing to a total of 65.27% of stock ownership by institutional investors.
• Analysts generally view NVIDIA positively, with a consensus rating of "Moderate Buy" and an average target price of $183.75, reflecting confidence in the company's future performance.

Gateway Wealth Partners LLC grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,540 shares of the computer hardware maker's stock after buying an additional 2,577 shares during the quarter. Gateway Wealth Partners LLC's holdings in NVIDIA were worth $3,202,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC boosted its stake in shares of NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 1.7% during the fourth 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 purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank bought a new position in shares of NVIDIA during the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp boosted its stake 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 purchasing an additional 36,266,817 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on NVDA shares. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Mizuho set a $192.00 target price on shares of NVIDIA and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Oppenheimer lifted their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley lifted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One 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 assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average target price of $183.75.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,537,440 shares of company stock valued at $835,035,782 over the last 90 days. Company insiders own 4.17% of the company's stock.

NVIDIA Stock Up 0.7%

NVDA stock opened at $179.42 on Thursday. The stock's fifty day simple moving average is $158.02 and its two-hundred day simple moving average is $133.22. 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 Corporation has a 1-year low of $86.62 and a 1-year high of $183.30. The stock has a market cap 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.

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

NVIDIA Dividend Announcement

The company 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 was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is 1.29%.

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.

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