Gradient Investments LLC Has $86.96 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Gradient Investments LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 23.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 802,376 shares of the computer hardware maker's stock after acquiring an additional 149,784 shares during the period. NVIDIA accounts for 1.8% of Gradient Investments LLC's investment portfolio, making the stock its 8th biggest holding. Gradient Investments LLC's holdings in NVIDIA were worth $86,962,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NVDA. Tacita Capital Inc acquired a new stake in NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $40,000. Copia Wealth Management bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $50,000. Finally, LSV Asset Management bought a new position in NVIDIA in the fourth quarter worth $54,000. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,560,845 shares of company stock valued at $360,351,849 in the last quarter. 4.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NVDA shares. Benchmark restated a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Mizuho lifted their price objective on NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Finally, DA Davidson boosted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and an average target price of $172.24.

NVIDIA Trading Down 2.1%

NVDA stock traded down $3.03 during midday trading on Friday, hitting $141.97. 180,270,368 shares of the company's stock were exchanged, compared to its average volume of 276,444,292. NVIDIA Co. has a one year low of $86.62 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market cap of $3.46 trillion, a PE ratio of 55.87, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The stock's fifty day moving average price is $121.86 and its 200-day moving average price is $126.41.

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

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

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.