Hardy Reed LLC Acquires 1,591 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Hardy Reed LLC lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,469 shares of the computer hardware maker's stock after purchasing an additional 1,591 shares during the quarter. Hardy Reed LLC's holdings in NVIDIA were worth $5,145,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Condor Capital Management increased its holdings in shares of NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after purchasing an additional 89 shares during the period. High Note Wealth LLC increased its stake in NVIDIA by 0.5% in the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock valued at $1,937,000 after acquiring an additional 91 shares during the last quarter. Kelly Financial Services LLC increased its stake in NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after acquiring an additional 94 shares during the last quarter. Mendel Capital Management LLC increased its stake in NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after acquiring an additional 96 shares during the last quarter. Finally, Wallace Hart LLC increased its stake in NVIDIA by 3.9% in the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after acquiring an additional 97 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 0.8%

NVDA opened at $181.62 on Thursday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.43 trillion, a P/E ratio of 58.59, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. The company has a fifty day moving average price of $162.34 and a two-hundred day moving average price of $134.56.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the firm posted $0.61 earnings per share. The company's revenue for the quarter was up 69.2% on a year-over-year basis. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NVDA shares. Rosenblatt Securities lifted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Mizuho set a $192.00 price objective on shares of NVIDIA and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Bank of America lifted their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Piper Sandler set a $225.00 price objective on shares of NVIDIA and gave the company an "overweight" rating in a research note on Wednesday. Finally, DA Davidson lifted their price objective 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $185.97.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 27,640 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares of the company's stock, valued at $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the sale, the chief executive officer directly owned 72,998,225 shares of the company's stock, valued at approximately $13,240,418,050.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Insiders own 4.17% of the company's stock.

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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