Goelzer Investment Management Inc. Raises Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Goelzer Investment Management Inc. grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,695 shares of the computer hardware maker's stock after acquiring an additional 7,179 shares during the quarter. NVIDIA accounts for approximately 0.7% of Goelzer Investment Management Inc.'s portfolio, making the stock its 24th largest holding. Goelzer Investment Management Inc.'s holdings in NVIDIA were worth $11,780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. increased its position in shares of NVIDIA by 0.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after buying an additional 864 shares during the period. Centerpoint Advisory Group increased its position in shares of NVIDIA by 2.5% during the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after buying an additional 943 shares during the period. GSB Wealth Management LLC increased its position in shares of NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC increased its position in shares of NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after buying an additional 3,206 shares during the period. Finally, Financial Perspectives Inc increased its position 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 purchasing an additional 1,265 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 1.0%

NVDA traded down $1.74 during trading hours on Friday, reaching $176.13. 105,302,895 shares of the company's stock traded hands, compared to its average volume of 248,096,203. The firm has a 50-day moving average price of $154.45 and a 200 day moving average price of $132.03. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.30. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.30 trillion, a PE ratio of 56.78, a PEG ratio of 1.58 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the previous year, the firm earned $0.61 EPS. NVIDIA's revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVDA. Bank of America upped their price objective on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on shares of NVIDIA in a research report on Thursday, July 10th. They issued a "buy" rating and a $185.00 price objective on the stock. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Piper Sandler restated an "overweight" rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, Wedbush reaffirmed 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 given a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $182.03.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total value of $13,405,500.00. Following the completion of the sale, the chief executive officer directly owned 73,748,225 shares in the company, valued at approximately $13,181,757,736.50. This represents a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,339,800 shares of company stock worth $800,141,003. 4.17% of the stock is currently owned by company 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.