New Insight Wealth Advisors Has $2.02 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• New Insight Wealth Advisors has increased its holdings in NVIDIA Corporation by 13.3%, now possessing 18,668 shares valued at approximately $2.02 million.
• Equity analysts have recently boosted their price targets for NVIDIA shares, with significant increases from firms like Rosenblatt Securities and TD Cowen, now averaging $182.03.
• NVIDIA reported a 69.2% year-over-year revenue growth in its recent earnings report, though it missed the earnings per share consensus estimate.

New Insight Wealth Advisors raised its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 13.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,668 shares of the computer hardware maker's stock after buying an additional 2,187 shares during the period. NVIDIA accounts for about 0.9% of New Insight Wealth Advisors' investment portfolio, making the stock its 25th biggest position. New Insight Wealth Advisors' holdings in NVIDIA were worth $2,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc bought a new position in shares of NVIDIA in the fourth quarter worth about $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $38,000. Copia Wealth Management bought a new position in shares of NVIDIA in the fourth quarter worth about $50,000. LSV Asset Management bought a new position in shares of NVIDIA in the fourth quarter worth about $54,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of NVIDIA in the first quarter worth about $51,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NVDA shares. Rosenblatt Securities boosted their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. TD Cowen boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Morgan Stanley boosted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Benchmark reissued a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $182.03.

NVIDIA Stock Performance

Shares of NVDA opened at $173.72 on Friday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The firm has a fifty day simple moving average of $155.30 and a 200 day simple moving average of $132.29. The stock has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. Research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,339,800 shares of company stock worth $800,141,003. Company 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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