Jackson Wealth Management LLC Acquires 3,322 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Jackson Wealth Management LLC increased its holdings in NVIDIA Corporation by 4.6%, accumulating a total of 74,863 shares valued at approximately $8.1 million, making it the firm's 25th largest holding.
• NVIDIA's recent quarterly earnings showed a revenue of $44.06 billion but missed EPS estimates, reporting $0.81 compared to the expected $0.87, with a year-over-year revenue increase of 69.2%.
• Brokerages have raised their price targets for NVIDIA, with Needham & Company LLC increasing their target to $200 and maintaining a "buy" rating as analysts project strong future growth for the company.

Jackson Wealth Management LLC grew its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,863 shares of the computer hardware maker's stock after acquiring an additional 3,322 shares during the quarter. NVIDIA comprises approximately 1.0% of Jackson Wealth Management LLC's portfolio, making the stock its 25th biggest holding. Jackson Wealth Management LLC's holdings in NVIDIA were worth $8,114,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Norges Bank purchased a new position in shares of NVIDIA in the 4th quarter worth about $43,515,504,000. GAMMA Investing LLC raised its holdings in shares of NVIDIA by 12,173.2% in 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 period. 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 worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of 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 worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of NVIDIA by 204.6% in the 1st 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 hedge funds and other institutional investors.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the completion of the sale, the chief executive officer owned 73,748,225 shares of the company's stock, valued at approximately $13,181,757,736.50. This trade represents a 0.10% 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, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,339,800 shares of company stock valued at $800,141,003. Insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NVDA shares. The Goldman Sachs Group started coverage on NVIDIA in a research note on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price for the company. Truist Financial increased their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Citigroup increased their target price on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Benchmark reiterated a "buy" rating and issued a $190.00 target price 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 given a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

NVIDIA Stock Down 2.3%

Shares of NVIDIA stock traded down $4.15 during midday trading on Friday, hitting $173.72. The company's stock had a trading volume of 203,669,565 shares, compared to its average volume of 153,436,048. The firm has a market capitalization of $4.24 trillion, a P/E ratio of 56.04, a PEG ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.30. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $155.30 and a 200-day simple moving average of $132.32.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates 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 business posted $0.61 EPS. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is presently 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.