Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Acquires 209,094 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,557,838 shares of the computer hardware maker's stock after purchasing an additional 209,094 shares during the quarter. NVIDIA accounts for 1.5% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's portfolio, making the stock its 22nd largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in NVIDIA were worth $160,006,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new stake in NVIDIA during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $38,000. Copia Wealth Management purchased a new stake in NVIDIA during the 4th quarter worth approximately $50,000. LSV Asset Management purchased a new stake in NVIDIA during the 4th quarter worth approximately $54,000. Finally, Bruce G. Allen Investments LLC increased its stake in NVIDIA by 198.2% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVDA. Rosenblatt Securities increased their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Barclays increased their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Mizuho set a $192.00 price objective on NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Morgan Stanley restated an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $181.22.

NVIDIA Stock Up 2.2%

NVIDIA stock traded up $3.75 during midday trading on Wednesday, hitting $170.78. 152,871,674 shares of the stock were exchanged, compared to its average volume of 263,063,842. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.25. The stock has a market capitalization of $4.17 trillion, a price-to-earnings ratio of 55.09, a price-to-earnings-growth ratio of 1.47 and a beta of 2.13. The business's 50-day moving average price is $149.41 and its 200-day moving average price is $130.53. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the firm earned $0.61 EPS. The business's revenue for the quarter was up 69.2% on a year-over-year basis. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. 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 0.02%. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the business's 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 completion of the transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business's 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 completion of the transaction, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,114,800 shares of company stock worth $760,553,003 in the last 90 days. 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.