Linden Thomas Advisory Services LLC Increases Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Linden Thomas Advisory Services LLC increased its stake in NVIDIA by 7.4%, owning 174,045 shares valued at approximately $18.86 million, making it the fund's largest position.
• NVIDIA's earnings report reflected a miss in EPS estimates, reporting $0.81 per share compared to the consensus of $0.87, although quarterly revenue increased by 69.2% year-over-year.
• Despite trading down 2.3%, analysts maintain a positive outlook with an average target price of $182.03 and a majority recommending a buy rating.

Linden Thomas Advisory Services LLC increased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 174,045 shares of the computer hardware maker's stock after purchasing an additional 11,989 shares during the period. NVIDIA makes up about 2.4% of Linden Thomas Advisory Services LLC's investment portfolio, making the stock its largest position. Linden Thomas Advisory Services LLC's holdings in NVIDIA were worth $18,863,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Condor Capital Management boosted its stake in NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after buying an additional 89 shares during the period. Kelly Financial Services LLC boosted its stake in shares of NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares during the period. Foundry Financial Group Inc. boosted its stake in shares of NVIDIA by 2.2% during the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after purchasing an additional 96 shares during the period. Mendel Capital Management LLC boosted its stake in shares of NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after purchasing an additional 96 shares during the period. Finally, Wallace Hart LLC boosted its stake in shares of NVIDIA by 3.9% during the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after purchasing an additional 97 shares during the period. Institutional investors own 65.27% of the company's stock.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,339,800 shares of company stock worth $800,141,003. Corporate insiders own 4.17% of the company's stock.

NVIDIA Trading Down 2.3%

Shares of NASDAQ:NVDA opened at $173.72 on Monday. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30. The firm has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 1.53 and a beta of 2.14. 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 moving average price is $155.30 and its 200-day moving average price is $132.28.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter last year, the business earned $0.61 EPS. The company's quarterly revenue was up 69.2% on a year-over-year basis. On average, equities research analysts forecast 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. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. UBS Group reissued a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Truist Financial boosted their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Citigroup boosted their target price on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Morgan Stanley boosted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Loop Capital upped their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. One 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $182.03.

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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