Kingsman Wealth Management Inc. purchased a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 160,806 shares of the computer hardware maker's stock, valued at approximately $17,428,000. NVIDIA makes up approximately 12.7% of Kingsman Wealth Management Inc.'s investment portfolio, making the stock its biggest position.
Other hedge funds have also added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. grew its stake in shares of NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after acquiring an additional 864 shares during the period. Centerpoint Advisory Group grew its stake in shares of NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares during the period. GSB Wealth Management LLC grew its stake in shares of NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC grew its stake in shares of NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after acquiring an additional 3,206 shares during the period. Finally, Financial Perspectives Inc grew its stake in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after acquiring an additional 1,265 shares during the period. 65.27% of the stock is owned by institutional investors.
NVIDIA Trading Up 0.9%
NVDA opened at $182.01 on Tuesday. The firm has a market cap of $4.44 trillion, a price-to-earnings ratio of 58.71, a PEG ratio of 1.59 and a beta of 2.14. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The stock has a fifty day moving average price of $164.75 and a 200-day moving average price of $135.95.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The company's revenue was up 69.2% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced 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. 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 dividend payout ratio is currently 1.29%.
Analyst Ratings Changes
NVDA has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective for the company. Loop Capital upped their price objective on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Barclays increased their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Raymond James Financial increased their target price on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Finally, Oppenheimer increased their target price on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $187.61.
Get Our Latest Analysis on NVDA
Insiders Place Their Bets
In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,912,440 shares of company stock valued at $902,886,782. 4.17% of the stock is currently owned by corporate insiders.
NVIDIA Profile
(
Free Report)
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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