Steel Grove Capital Advisors LLC Acquires 3,182 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Steel Grove Capital Advisors LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 342,338 shares of the computer hardware maker's stock after purchasing an additional 3,182 shares during the period. NVIDIA accounts for about 5.6% of Steel Grove Capital Advisors LLC's portfolio, making the stock its 3rd largest position. Steel Grove Capital Advisors LLC's holdings in NVIDIA were worth $37,103,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Tacita Capital Inc acquired a new stake in NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the 4th quarter worth approximately $38,000. Copia Wealth Management acquired a new stake in NVIDIA in the 4th quarter worth approximately $50,000. Bruce G. Allen Investments LLC boosted its stake in 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 in the last quarter. Finally, LSV Asset Management acquired a new stake in NVIDIA in the 4th quarter worth approximately $54,000. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVDA. Bank of America lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Piper Sandler restated an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Oppenheimer restated an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, June 16th. Finally, UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average target price of $176.47.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,296,844 shares of company stock worth $624,019,677. 4.17% of the stock is owned by corporate insiders.

NVIDIA Trading Up 0.7%

Shares of NVDA stock traded up $1.12 on Tuesday, hitting $159.36. 63,866,798 shares of the stock traded hands, compared to its average volume of 267,054,211. The firm's 50-day moving average price is $137.37 and its two-hundred day moving average price is $127.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a market capitalization of $3.89 trillion, a PE ratio of 51.41, a PEG ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $160.98.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results 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 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 previous year, the company earned $0.61 EPS. The company's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given 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 0.03%. NVIDIA's payout ratio is currently 1.29%.

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.