Equita Financial Network Inc. Increases Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Equita Financial Network Inc. increased its holdings in NVIDIA Corporation by 38.1% during the first quarter, acquiring an additional 2,380 shares worth approximately $936,000.
• Analysts have set a consensus target price for NVIDIA at $181.22, with a majority issuing a "buy" or "strong buy" rating.
• Insider activity shows significant sales, including 935,000 shares sold by Director Mark A. Stevens for over $131 million, indicating potential changes in investor sentiment.

Equita Financial Network Inc. boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 38.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,632 shares of the computer hardware maker's stock after acquiring an additional 2,380 shares during the period. Equita Financial Network Inc.'s holdings in NVIDIA were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of NVIDIA in the fourth quarter worth $43,515,504,000. GAMMA Investing LLC raised its stake in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares during the last quarter. Northern Trust Corp lifted its position in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. Proficio Capital Partners LLC grew its stake in NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after purchasing an additional 23,948,733 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group upped their target price on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Oppenheimer upped their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Finally, TD Cowen boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $182.03.

NVIDIA Price Performance

NVDA stock traded up $3.76 during mid-day trading on Wednesday, reaching $179.27. The company's stock had a trading volume of 170,353,567 shares, compared to its average volume of 149,383,152. 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's 50 day moving average is $153.55 and its two-hundred day moving average is $131.72. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $179.89. The stock has a market cap of $4.37 trillion, a PE ratio of 57.83, a P/E/G ratio of 1.55 and a beta of 2.13.

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

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction dated 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 transaction, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $175.22, for a total transaction of $13,141,500.00. Following the completion of the transaction, the chief executive officer owned 73,898,225 shares in the company, valued at $12,948,446,984.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,264,800 shares of company stock valued at $786,735,503. 4.17% of the stock is owned by company insiders.

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.