Highline Wealth Partners LLC Increases Position in NVIDIA Corporation (NASDAQ:NVDA)

Highline Wealth Partners LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,504 shares of the computer hardware maker's stock after purchasing an additional 1,787 shares during the period. NVIDIA comprises about 6.4% of Highline Wealth Partners LLC's portfolio, making the stock its 2nd largest holding. Highline Wealth Partners LLC's holdings in NVIDIA were worth $18,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in NVIDIA in the fourth quarter valued at $43,515,504,000. GAMMA Investing LLC increased its stake in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the last quarter. Northern Trust Corp raised its holdings in shares of NVIDIA by 15.8% in the 4th 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 during the period. Proficio Capital Partners LLC lifted its stake in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Bank of America upped their price objective on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Barclays increased their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Needham & Company LLC reissued a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Finally, KeyCorp set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $175.78.

NVIDIA Stock Up 2.6%

NVDA stock opened at $157.25 on Thursday. The firm has a 50-day moving average price of $134.36 and a 200-day moving average price of $127.45. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $158.71. 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 stock has a market capitalization of $3.84 trillion, a P/E ratio of 50.73, a price-to-earnings-growth ratio of 1.36 and a beta of 2.13.

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

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $157.53, for a total value of $11,814,750.00. Following the completion of the transaction, the chief executive officer owned 75,323,225 shares in the company, valued at $11,865,667,634.25. This trade represents a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,044,919 shares of company stock worth $584,414,209. Insiders own 4.17% of the company's stock.

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.

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