Modus Advisors LLC Buys 2,796 Shares of NVIDIA Co. (NASDAQ:NVDA)

Modus Advisors LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,571 shares of the computer hardware maker's stock after buying an additional 2,796 shares during the quarter. NVIDIA comprises 2.1% of Modus Advisors LLC's portfolio, making the stock its 12th largest position. Modus Advisors LLC's holdings in NVIDIA were worth $6,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of NVDA. Tacita Capital Inc purchased a new stake in NVIDIA in the fourth quarter worth about $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the fourth quarter worth about $40,000. Copia Wealth Management purchased a new stake in NVIDIA in the fourth quarter worth about $50,000. Finally, LSV Asset Management purchased a new stake in NVIDIA in the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. Hsbc Global Res downgraded shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Piper Sandler reiterated an "overweight" rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $171.66.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded down $1.13 on Wednesday, reaching $142.83. The company's stock had a trading volume of 166,804,211 shares, compared to its average volume of 277,376,699. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $153.13. The company has a market cap of $3.49 trillion, a P/E ratio of 56.21, a PEG ratio of 1.76 and a beta of 2.12. The company has a 50-day simple moving average of $120.91 and a 200 day simple moving average of $126.34. 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 (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $43.09 billion. During the same period in the previous year, the business earned $0.61 earnings per share. The business's quarterly revenue was up 69.2% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid 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 payout ratio is currently 1.29%.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 190,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.51, for a total value of $27,076,900.00. Following the completion of the sale, the director now owns 8,855,848 shares in the company, valued at approximately $1,262,046,898.48. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,614,169 shares of company stock valued at $366,510,238 in the last three months. Corporate 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.