Moran Wealth Management LLC Buys 55,408 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Moran Wealth Management LLC grew its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 308,564 shares of the computer hardware maker's stock after purchasing an additional 55,408 shares during the period. NVIDIA comprises about 1.1% of Moran Wealth Management LLC's portfolio, making the stock its 12th largest position. Moran Wealth Management LLC's holdings in NVIDIA were worth $33,442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Symmetry Partners LLC lifted its position in shares of NVIDIA by 12.8% in the first quarter. Symmetry Partners LLC now owns 15,517 shares of the computer hardware maker's stock worth $1,682,000 after purchasing an additional 1,758 shares in the last quarter. International Assets Investment Management LLC lifted its stake in NVIDIA by 1.0% in the first quarter. International Assets Investment Management LLC now owns 489,105 shares of the computer hardware maker's stock valued at $53,009,000 after acquiring an additional 4,730 shares during the last quarter. Gerber LLC grew its position in shares of NVIDIA by 0.7% in the 1st quarter. Gerber LLC now owns 32,422 shares of the computer hardware maker's stock valued at $3,514,000 after acquiring an additional 241 shares during the period. Invesco LLC raised its holdings in shares of NVIDIA by 16.5% in the 1st quarter. Invesco LLC now owns 38,416 shares of the computer hardware maker's stock valued at $4,163,000 after purchasing an additional 5,455 shares during the period. Finally, Harbour Capital Advisors LLC grew its holdings in NVIDIA by 4.9% during the first quarter. Harbour Capital Advisors LLC now owns 44,028 shares of the computer hardware maker's stock worth $4,482,000 after purchasing an additional 2,038 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup boosted their target price on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Barclays increased their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Needham & Company LLC lifted their target price on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday. HSBC cut shares of 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 boosted their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $181.22.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded down $0.59 during mid-day trading on Friday, hitting $172.41. 145,724,125 shares of the stock traded hands, compared to its average volume of 263,779,508. The company has a market cap of $4.21 trillion, a PE ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $174.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a 50 day simple moving average of $146.99 and a two-hundred day simple moving average of $129.90.

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

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 27,650 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the transaction, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $172.52, for a total transaction of $12,939,000.00. Following the transaction, the chief executive officer directly owned 74,348,225 shares in the company, valued at $12,826,555,777. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,964,800 shares of company stock worth $734,906,003 over the last three months. 4.17% of the stock is owned by company insiders.

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.