Red Door Wealth Management LLC Acquires 4,478 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Red Door Wealth Management LLC lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 234,205 shares of the computer hardware maker's stock after buying an additional 4,478 shares during the period. NVIDIA comprises approximately 3.8% of Red Door Wealth Management LLC's investment portfolio, making the stock its 4th biggest position. Red Door Wealth Management LLC's holdings in NVIDIA were worth $25,383,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $50,000. Bruce G. Allen Investments LLC raised its holdings in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares during the period. Finally, LSV Asset Management bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NVDA stock traded down $0.24 during mid-day trading on Friday, reaching $173.50. The company had a trading volume of 121,814,931 shares, compared to its average volume of 162,110,176. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $4.23 trillion, a P/E ratio of 55.97, a P/E/G ratio of 1.53 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.72. The stock's 50-day simple moving average is $150.95 and its two-hundred day simple moving average is $130.86.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. Research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,114,800 shares of company stock worth $760,553,003. Company insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NVDA. Needham & Company LLC increased their target price on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Bank of America upped their price target on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Oppenheimer upped their price target on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Piper Sandler restated an "overweight" rating and set a $180.00 price target (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, four have issued a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $181.22.

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.