Good Steward Wealth Advisors LLC Acquires New Shares in NVIDIA Corporation (NASDAQ:NVDA)

Good Steward Wealth Advisors LLC acquired a new position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,897 shares of the computer hardware maker's stock, valued at approximately $314,000.

A number of other hedge funds have also bought and sold shares of the business. GSB Wealth Management LLC grew its holdings in shares of NVIDIA by 3.3% in the first 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 boosted its position in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Financial Perspectives Inc boosted its position in 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. Hickory Point Bank & Trust bought a new stake in shares of NVIDIA during the 4th quarter valued at about $2,272,000. Finally, Pegasus Asset Management Inc. increased its position in shares of NVIDIA by 0.3% during the 1st quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock valued at $8,318,000 after purchasing an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVDA. UBS Group reissued a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Rosenblatt Securities increased their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. William Blair restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday, March 19th. Finally, Barclays boosted their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $176.47.

Insider Activity

In related news, Director A Brooke Seawell sold 50,514 shares of NVIDIA stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $158.37, for a total value of $7,999,902.18. Following the completion of the transaction, the director owned 1,974,784 shares in the company, valued at approximately $312,746,542.08. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $158.35, for a total value of $11,876,250.00. Following the sale, the chief executive officer owned 75,023,225 shares in the company, valued at approximately $11,879,927,678.75. This trade 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 4,296,844 shares of company stock worth $624,019,677 over the last 90 days. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $158.24 on Tuesday. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 51.05, a PEG ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $160.98. The stock's 50 day simple moving average is $137.37 and its two-hundred day simple moving average is $127.97. 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 posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced 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. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, June 11th. 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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