New Wave Wealth Advisors LLC Buys 4,135 Shares of NVIDIA Corporation (NASDAQ:NVDA)

New Wave Wealth Advisors LLC raised its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 41,808 shares of the computer hardware maker's stock after purchasing an additional 4,135 shares during the quarter. NVIDIA makes up approximately 2.0% of New Wave Wealth Advisors LLC's investment portfolio, making the stock its 13th largest holding. New Wave Wealth Advisors LLC's holdings in NVIDIA were worth $4,531,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tacita Capital Inc bought a new stake in shares of NVIDIA during the 4th quarter valued at about $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at about $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA during the 4th quarter valued at about $50,000. Bruce G. Allen Investments LLC boosted its position in shares of NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares in the last quarter. Finally, LSV Asset Management acquired a new position in NVIDIA during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Trading Down 0.1%

NVDA traded down $0.24 on Friday, hitting $173.50. 121,814,931 shares of the company were exchanged, compared to its average volume of 162,110,176. The firm has a fifty day simple moving average of $150.95 and a two-hundred day simple moving average of $130.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.72. The stock has a market capitalization of $4.23 trillion, a PE ratio of 55.97, a price-to-earnings-growth ratio of 1.53 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data 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). The business 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%. The business's revenue was up 69.2% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on NVDA shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. UBS Group reissued a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Bank of America increased their price objective on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Citigroup increased their price objective on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group assumed coverage on NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average price target of $181.22.

Insider Buying and Selling at NVIDIA

In other NVIDIA 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 completion of the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the sale, the director owned 1,729,478 shares of the company's stock, valued at approximately $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,114,800 shares of company stock worth $760,553,003. 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.