Mar Vista Investment Partners LLC Buys New Shares in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Mar Vista Investment Partners LLC has acquired a new stake in NVIDIA Corporation, purchasing 186,059 shares worth approximately $20.2 million during the first quarter.
• Analysts have positive outlooks on NVIDIA, with several firms raising their price targets, including Morgan Stanley and Cantor Fitzgerald, both setting a target of $200.
• CFO Colette Kress and CEO Jen Hsun Huang sold significant shares recently, which may indicate insider trading activity, as insiders have sold a total of 5.49 million shares valued at over $826 million in the last 90 days.

Mar Vista Investment Partners LLC bought a new stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 186,059 shares of the computer hardware maker's stock, valued at approximately $20,165,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Astoria Portfolio Advisors LLC. increased its position in shares of NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after acquiring an additional 864 shares during the last quarter. Centerpoint Advisory Group increased its position in shares of NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after acquiring an additional 943 shares during the last quarter. GSB Wealth Management LLC increased its position in shares of NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after acquiring an additional 1,043 shares during the last quarter. Variant Private Wealth LLC grew its holdings in NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares during the period. Finally, Financial Perspectives Inc grew its holdings in NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Piper Sandler reiterated an "overweight" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Raymond James Financial lifted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Finally, Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. One 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $182.03.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 27,650 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at $510,023,939.24. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.16, for a total value of $13,362,000.00. Following the completion of the sale, the chief executive officer owned 73,523,225 shares of the company's stock, 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 sold 5,489,800 shares of company stock valued at $826,553,003 over the last 90 days. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Down 1.0%

Shares of NVDA opened at $178.26 on Wednesday. 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 price-to-earnings ratio of 57.50, a PEG ratio of 1.59 and a beta of 2.14. 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 stock has a fifty day moving average of $157.13 and a 200-day moving average of $132.90.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly 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 net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The firm's revenue was up 69.2% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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.

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