NVIDIA Corporation (NASDAQ:NVDA) is Denali Advisors LLC's 3rd Largest Position

Key Points

• Denali Advisors LLC has reduced its stake in NVIDIA Corporation by 0.9%, now holding 286,768 shares, making NVIDIA their 3rd largest position which represents 3.5% of their portfolio.
• Several large investors, including Copia Wealth Management and Bruce G. Allen Investments LLC, have recently bought stakes in NVIDIA, indicating growing institutional interest with 65.27% of the stock being held by institutional investors.
• An average target price for NVIDIA's stock has been set at $186.33, with a consensus rating of "Moderate Buy" from equity analysts, reflecting positive market sentiment despite a recent earnings report that missed estimates.

Denali Advisors LLC lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 286,768 shares of the computer hardware maker's stock after selling 2,497 shares during the quarter. NVIDIA makes up 3.5% of Denali Advisors LLC's investment portfolio, making the stock its 3rd largest position. Denali Advisors LLC's holdings in NVIDIA were worth $31,080,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Copia Wealth Management bought a new stake in NVIDIA in the fourth quarter valued at approximately $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of NVIDIA during the first quarter valued at approximately $51,000. Bruce G. Allen Investments LLC grew its stake in NVIDIA by 198.2% in the first 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. LSV Asset Management purchased a new stake in NVIDIA in the fourth quarter worth $54,000. Finally, Delos Wealth Advisors LLC grew its stake in NVIDIA by 134.8% in the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock worth $66,000 after purchasing an additional 283 shares during the period. Institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Bank of America increased their target price on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. The Goldman Sachs Group began coverage on NVIDIA in a report on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price on the stock. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Benchmark reiterated a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $186.33.

NVIDIA Price Performance

Shares of NVDA stock opened at $180.45 on Friday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48. The stock has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a P/E/G ratio of 1.60 and a beta of 2.14. The stock has a fifty day simple moving average of $163.96 and a two-hundred day simple moving average of $135.36. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

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

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This represents a 0.10% 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, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value 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. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,837,440 shares of company stock valued at $889,404,782 over the last three months. Company 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.

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