InTrack Investment Management Inc Has $2.62 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

InTrack Investment Management Inc decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 13.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,181 shares of the computer hardware maker's stock after selling 3,692 shares during the quarter. NVIDIA makes up 2.4% of InTrack Investment Management Inc's investment portfolio, making the stock its 7th largest position. InTrack Investment Management Inc's holdings in NVIDIA were worth $2,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NVDA. Donaldson Capital Management LLC lifted its holdings in NVIDIA by 7.7% during the 1st quarter. Donaldson Capital Management LLC now owns 74,065 shares of the computer hardware maker's stock worth $8,027,000 after purchasing an additional 5,310 shares in the last quarter. Foresight Capital Management Advisors Inc. lifted its holdings in NVIDIA by 3.0% during the 1st quarter. Foresight Capital Management Advisors Inc. now owns 39,447 shares of the computer hardware maker's stock worth $4,275,000 after purchasing an additional 1,159 shares in the last quarter. Ellenbecker Investment Group lifted its holdings in NVIDIA by 3.2% during the 1st quarter. Ellenbecker Investment Group now owns 20,107 shares of the computer hardware maker's stock worth $2,179,000 after purchasing an additional 624 shares in the last quarter. Bannerman Wealth Management Group LLC lifted its holdings in NVIDIA by 10.6% during the 1st quarter. Bannerman Wealth Management Group LLC now owns 11,082 shares of the computer hardware maker's stock worth $1,201,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Eagle Capital Management LLC purchased a new stake in NVIDIA during the 1st quarter worth about $296,000. Institutional investors own 65.27% of the company's stock.

Insiders Place Their Bets

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now owns 201,044 shares in the company, valued at approximately $27,104,752.08. This trade represents a 19.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 54,467 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $146.88, for a total value of $8,000,112.96. Following the completion of the sale, the director now owns 1,834,570 shares of the company's stock, valued at approximately $269,461,641.60. This trade represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,393,863 shares of company stock valued at $483,709,832 in the last ninety days. Company insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $154.31 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business's 50 day simple moving average is $128.75 and its two-hundred day simple moving average is $126.78. The stock has a market capitalization of $3.77 trillion, a P/E ratio of 49.78, a price-to-earnings-growth ratio of 1.31 and a beta of 2.12. NVIDIA Corporation has a one year low of $86.62 and a one year high of $154.45.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVDA. HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. Loop Capital increased their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday. Morgan Stanley reissued an "overweight" rating and set a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Finally, Citigroup restated a "buy" rating and issued a $180.00 target price (up from $150.00) 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 issued a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $175.78.

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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