Heritage Wealth Management Inc. Increases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Heritage Wealth Management Inc. has increased its holdings in NVIDIA Corporation by 25.2%, acquiring an additional 5,192 shares for a total of 25,835 shares valued at approximately $2.8 million.
• Several analysts have upgraded their price targets for NVIDIA, with Citigroup raising its target from $180.00 to $190.00, while Rosenblatt Securities set a target price of $200.00.
• NVIDIA recently announced a quarterly dividend of $0.01 per share, reflecting a low annualized yield of 0.0%, and reported a net margin of 51.69% with a 69.2% increase in revenue year-over-year.

Heritage Wealth Management Inc. grew its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,835 shares of the computer hardware maker's stock after purchasing an additional 5,192 shares during the period. NVIDIA makes up about 1.0% of Heritage Wealth Management Inc.'s portfolio, making the stock its 17th biggest position. Heritage Wealth Management Inc.'s holdings in NVIDIA were worth $2,800,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. Tacita Capital Inc acquired a new position in NVIDIA during the 4th quarter worth about $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at about $38,000. Copia Wealth Management bought a new stake in NVIDIA in the 4th quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC bought a new stake in NVIDIA in the 1st quarter valued at about $51,000. Finally, Bruce G. Allen Investments LLC increased its position in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

NVDA traded down $4.15 during trading on Friday, reaching $173.72. The stock had a trading volume of 203,669,565 shares, compared to its average volume of 153,436,048. The stock has a market cap of $4.24 trillion, a PE ratio of 56.04, a PEG ratio of 1.57 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30. The business has a 50-day moving average of $155.30 and a 200-day moving average of $132.32.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the business posted $0.61 earnings per share. The firm's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the transaction, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the transaction, the chief executive officer owned 73,748,225 shares of the company's stock, valued at $13,181,757,736.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock worth $800,141,003 over the last three months. Company insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NVDA shares. Benchmark reissued a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Oppenheimer upped their target price on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Finally, Needham & Company LLC upped their price objective on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have issued 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 currently has an average rating of "Moderate Buy" and an average target price of $182.03.

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.