Legacy CG LLC Increases Stake in NVIDIA Corporation (NASDAQ:NVDA)

Legacy CG LLC grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,236 shares of the computer hardware maker's stock after acquiring an additional 3,412 shares during the quarter. NVIDIA accounts for approximately 1.7% of Legacy CG LLC's holdings, making the stock its 25th biggest holding. Legacy CG LLC's holdings in NVIDIA were worth $5,228,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NVDA. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $38,000. Copia Wealth Management bought a new stake in NVIDIA in the fourth quarter worth $50,000. Bruce G. Allen Investments LLC lifted its position in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the last quarter. Finally, LSV Asset Management bought a new stake in shares of NVIDIA during the fourth quarter worth $54,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded down $3.08 during trading hours on Tuesday, hitting $168.30. 133,105,146 shares of the stock were exchanged, compared to its average volume of 262,897,397. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a market cap of $4.11 trillion, a PE ratio of 54.21, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. The company's fifty day simple moving average is $146.99 and its two-hundred day simple moving average is $129.81.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its 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 business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. The company's revenue was up 69.2% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVDA. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, Needham & Company LLC boosted their price target on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $181.22.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated 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 sale, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,964,800 shares of company stock worth $734,906,003 over the last quarter. 4.17% of the stock is currently owned by corporate insiders.

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.