Hobart Private Capital LLC Purchases 6,920 Shares of NVIDIA Co. (NASDAQ:NVDA)

Hobart Private Capital LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 60.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,431 shares of the computer hardware maker's stock after buying an additional 6,920 shares during the quarter. Hobart Private Capital LLC's holdings in NVIDIA were worth $1,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the 4th quarter worth about $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the 4th quarter worth about $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA in the 4th quarter worth about $40,000. Copia Wealth Management purchased a new stake in shares of NVIDIA in the 4th quarter worth about $50,000. Finally, LSV Asset Management purchased a new stake in shares of NVIDIA in the 4th quarter worth about $54,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $1.13 on Wednesday, hitting $142.83. 166,804,211 shares of the company traded hands, compared to its average volume of 277,376,658. The stock has a market capitalization of $3.49 trillion, a P/E ratio of 56.21, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $153.13. The business has a 50-day simple moving average of $119.94 and a 200 day simple moving average of $126.23.

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 for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. Research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aarti S. Shah sold 20,000 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the transaction, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,614,169 shares of company stock worth $366,510,238. Insiders own 4.17% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Rosenblatt Securities increased their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Piper Sandler reissued an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $171.66.

NVIDIA 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.