Kingsview Wealth Management LLC Purchases 66,986 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Kingsview Wealth Management LLC increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 987,285 shares of the computer hardware maker's stock after buying an additional 66,986 shares during the period. NVIDIA accounts for approximately 2.0% of Kingsview Wealth Management LLC's investment portfolio, making the stock its 6th biggest position. Kingsview Wealth Management LLC's holdings in NVIDIA were worth $107,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NVDA. Copia Wealth Management acquired a new position in shares of NVIDIA in the fourth quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA in the first quarter valued at $51,000. Bruce G. Allen Investments LLC increased its holdings in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. LSV Asset Management acquired a new position in shares of NVIDIA in the fourth quarter valued at $54,000. Finally, Delos Wealth Advisors LLC increased its holdings in shares of NVIDIA by 134.8% in the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock valued at $66,000 after purchasing an additional 283 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,837,440 shares of company stock worth $889,404,782 over the last quarter. 4.17% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NASDAQ NVDA opened at $181.62 on Thursday. The company has a market cap of $4.43 trillion, a PE ratio of 58.59, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. 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 firm's 50-day simple moving average is $162.34 and its two-hundred day simple moving average is $134.56.

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

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Bank of America upped their price target on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. DA Davidson upped their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Finally, Raymond James Financial upped their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $185.97.

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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