NVIDIA Corporation (NASDAQ:NVDA) is Lord & Richards Wealth Management LLC's 10th Largest Position

Lord & Richards Wealth Management LLC increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 189.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,048 shares of the computer hardware maker's stock after purchasing an additional 11,152 shares during the quarter. NVIDIA accounts for 2.1% of Lord & Richards Wealth Management LLC's portfolio, making the stock its 10th largest position. Lord & Richards Wealth Management LLC's holdings in NVIDIA were worth $1,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. GAMMA Investing LLC raised its holdings in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the period. Northern Trust Corp raised its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of NVIDIA during the fourth quarter worth $2,987,733,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVDA stock opened at $182.06 on Tuesday. 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 Corporation has a one year low of $86.62 and a one year high of $183.88. The firm has a market capitalization of $4.44 trillion, a PE ratio of 58.73, a P/E/G ratio of 1.61 and a beta of 2.14. The firm has a 50-day moving average of $160.71 and a two-hundred day moving average of $133.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the prior year, the company posted $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. On average, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVDA. Raymond James Financial increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Wedbush reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Mizuho set a $192.00 price target on shares of NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, UBS Group restated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. One investment 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $182.38, for a total value of $13,678,500.00. Following the completion of the sale, the chief executive officer directly owned 73,223,225 shares of the company's stock, valued at $13,354,451,775.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares of the company's stock, valued at $526,501,340.56. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,687,440 shares of company stock valued at $862,095,782 over the last three months. 4.17% of the stock is owned by insiders.

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.

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