NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,072 shares of the computer hardware maker's stock after buying an additional 1,894 shares during the quarter. NVIDIA comprises approximately 1.3% of MainStreet Investment Advisors LLC's portfolio, making the stock its 25th biggest holding. MainStreet Investment Advisors LLC's holdings in NVIDIA were worth $8,787,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its position in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its position in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its position in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank purchased a new position in NVIDIA during the fourth quarter worth about $43,515,504,000. Finally, Northern Trust Corp lifted its position in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NASDAQ:NVDA traded down $1.74 during trading hours on Tuesday, reaching $178.26. 155,486,898 shares of the stock were exchanged, compared to its average volume of 164,064,272. 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 has a 50 day simple moving average of $156.27 and a 200-day simple moving average of $132.58. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The stock has a market capitalization of $4.35 trillion, a P/E ratio of 57.50, a P/E/G ratio of 1.59 and a beta of 2.14.

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

NVIDIA Dividend Announcement

The business also recently declared 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler reiterated an "overweight" rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Benchmark restated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Truist Financial upped their price target on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Oppenheimer upped their price target on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Raymond James Financial upped their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

Insider Buying and Selling

In other news, CFO Colette Kress sold 27,650 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.16, for a total value of $13,362,000.00. Following the sale, the chief executive officer owned 73,523,225 shares in the company, valued at $13,098,897,766. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,489,800 shares of company stock worth $826,553,003 over the last quarter. Insiders own 4.17% of the company's stock.

About NVIDIA

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.