Nvest Financial LLC Raises Stake in NVIDIA Corporation (NASDAQ:NVDA)

Nvest Financial LLC boosted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,933 shares of the computer hardware maker's stock after purchasing an additional 2,777 shares during the quarter. NVIDIA comprises 1.6% of Nvest Financial LLC's investment portfolio, making the stock its 21st biggest position. Nvest Financial LLC's holdings in NVIDIA were worth $2,919,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tacita Capital Inc acquired a new position in NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $50,000. LSV Asset Management acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $54,000. Finally, Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 27,650 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $164.36, for a total value of $12,327,000.00. Following the completion of the sale, the chief executive officer directly owned 74,648,225 shares of the company's stock, valued at $12,269,182,261. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,814,800 shares of company stock valued at $709,172,753. 4.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVDA. Jefferies Financial Group upped their price objective on NVIDIA from $185.00 to $200.00 in a research note on Wednesday. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Needham & Company LLC upped their price objective on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Citigroup upped their price objective on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $181.22.

NVIDIA Stock Down 0.3%

Shares of NVDA traded down $0.59 during trading hours on Friday, reaching $172.41. The stock had a trading volume of 145,724,125 shares, compared to its average volume of 264,006,945. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.16. The firm has a 50-day simple moving average of $145.88 and a 200 day simple moving average of $129.63. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $4.21 trillion, a price-to-earnings ratio of 55.62, a P/E/G ratio of 1.51 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. Equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

About NVIDIA

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.