McNamara Financial Services Inc. Purchases Shares of 15,542 NVIDIA Corporation (NASDAQ:NVDA)

McNamara Financial Services Inc. purchased a new stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 15,542 shares of the computer hardware maker's stock, valued at approximately $1,684,000. NVIDIA comprises about 0.4% of McNamara Financial Services Inc.'s portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at $43,515,504,000. GAMMA Investing LLC grew its stake in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp grew its stake in NVIDIA by 15.8% in 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 purchasing an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC grew its stake in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in NVIDIA in the fourth quarter worth about $2,987,733,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Oppenheimer reissued an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a report on Monday. Mizuho boosted their target price on NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Rosenblatt Securities lifted their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $173.05.

NVIDIA Stock Up 0.9%

NVIDIA stock opened at $145.48 on Thursday. The firm has a market cap of $3.55 trillion, a price-to-earnings ratio of 46.93, a P/E/G ratio of 1.27 and a beta of 2.12. 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 Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The firm has a fifty day moving average price of $124.96 and a two-hundred day moving average price of $126.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results 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). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. As a group, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,540,845 shares of company stock valued at $357,983,449 in the last quarter. Insiders own 4.17% of the company's stock.

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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