Mascagni Wealth Management Inc. Has $2.84 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Mascagni Wealth Management Inc. reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,211 shares of the computer hardware maker's stock after selling 1,616 shares during the quarter. NVIDIA comprises approximately 2.8% of Mascagni Wealth Management Inc.'s holdings, making the stock its 7th largest holding. Mascagni Wealth Management Inc.'s holdings in NVIDIA were worth $2,841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of NVIDIA by 458.9% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 4,477 shares of the computer hardware maker's stock valued at $485,000 after acquiring an additional 3,676 shares during the last quarter. Lazari Capital Management Inc. boosted its position in shares of NVIDIA by 1.5% during the 1st quarter. Lazari Capital Management Inc. now owns 111,608 shares of the computer hardware maker's stock valued at $12,096,000 after acquiring an additional 1,628 shares during the last quarter. Palisade Asset Management LLC boosted its position in shares of NVIDIA by 2.9% during the 1st quarter. Palisade Asset Management LLC now owns 15,047 shares of the computer hardware maker's stock valued at $1,631,000 after acquiring an additional 426 shares during the last quarter. Legacy Advisors LLC raised its holdings in NVIDIA by 4.8% during the 1st quarter. Legacy Advisors LLC now owns 124,712 shares of the computer hardware maker's stock valued at $13,518,000 after buying an additional 5,710 shares during the period. Finally, AssuredPartners Investment Advisors LLC raised its holdings in NVIDIA by 1.8% during the 1st quarter. AssuredPartners Investment Advisors LLC now owns 43,280 shares of the computer hardware maker's stock valued at $4,691,000 after buying an additional 758 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

Shares of NVDA stock opened at $164.07 on Tuesday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $167.89. The stock's 50-day moving average is $142.53 and its 200 day moving average is $128.80. The company has a market cap of $4.00 trillion, a P/E ratio of 52.93, a PEG ratio of 1.46 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 company 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 business earned $0.61 EPS. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. Research analysts predict 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 given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD Cowen increased their price target on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. UBS Group restated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a report on Thursday, April 3rd. Finally, Rosenblatt Securities increased their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.03.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total transaction of $12,233,250.00. Following the sale, the chief executive officer owned 74,873,225 shares of the company's stock, valued at $12,212,571,729.75. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director A Brooke Seawell sold 49,131 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $162.83, for a total value of $8,000,000.73. Following the sale, the director directly owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. The trade was a 2.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,520,246 shares of company stock worth $660,253,045. 4.17% of the stock is 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.

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