Narus Financial Partners LLC Raises Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Narus Financial Partners LLC increased its stake in NVIDIA Corporation by 12.1% during the first quarter, now holding 38,218 shares valued at approximately $4.14 million.
• NVIDIA reported earnings of $0.81 per share for the last quarter, falling short of the consensus estimate of $0.87, despite achieving a 69.2% increase in revenue year-over-year.
• Several analysts upgraded their price targets for NVIDIA, with Barclays setting a new target of $200.00 and Loop Capital increasing theirs to $250.00, reflecting positive outlooks for the company's stock.

Narus Financial Partners LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,218 shares of the computer hardware maker's stock after purchasing an additional 4,115 shares during the period. NVIDIA accounts for approximately 1.4% of Narus Financial Partners LLC's holdings, making the stock its 7th biggest holding. Narus Financial Partners LLC's holdings in NVIDIA were worth $4,142,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. FMR LLC lifted its position in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its position in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing 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 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new position in NVIDIA during the 4th quarter valued at about $43,515,504,000. Finally, Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Down 1.0%

Shares of NASDAQ NVDA traded down $1.74 during trading hours on Tuesday, hitting $178.26. The company had a trading volume of 155,486,898 shares, compared to its average volume of 164,064,272. The firm's 50 day moving average is $156.27 and its 200-day moving average is $132.58. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.30. The stock has a market capitalization of $4.35 trillion, a P/E ratio of 57.50, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Needham & Company LLC upped their price target on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. The Goldman Sachs Group assumed coverage on NVIDIA in a research note on Thursday, July 10th. They issued a "buy" rating and a $185.00 price target for the company. Finally, Rosenblatt Securities upped their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $182.03.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.16, for a total transaction 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. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders have sold a total of 5,489,800 shares of company stock valued at $826,553,003 in the last ninety days. 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.