NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by NovaPoint Capital LLC

Key Points

• NovaPoint Capital LLC increased its stake in NVIDIA Corporation by 12.6% during the first quarter, making NVIDIA its 8th largest holding, valued at approximately $7.1 million.
• Several research firms have issued reports on NVIDIA, with price targets ranging from $120 to $250, and a consensus rating of "Moderate Buy" based on 33 buy ratings and only one sell rating.
• NVIDIA reported earnings per share (EPS) of $0.81 for the last quarter, missing expectations slightly, but its quarterly revenue increased by 69.2% year-over-year, totaling $44.06 billion.

NovaPoint Capital LLC grew its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 12.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,465 shares of the computer hardware maker's stock after buying an additional 7,329 shares during the period. NVIDIA makes up approximately 2.2% of NovaPoint Capital LLC's holdings, making the stock its 8th biggest position. NovaPoint Capital LLC's holdings in NVIDIA were worth $7,095,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of NVIDIA by 6.7% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 4,757 shares of the computer hardware maker's stock worth $516,000 after buying an additional 300 shares during the period. Klingenstein Fields & Co. LP lifted its position in NVIDIA by 2.9% during the 1st quarter. Klingenstein Fields & Co. LP now owns 429,068 shares of the computer hardware maker's stock worth $46,502,000 after acquiring an additional 12,238 shares during the last quarter. Alterna Wealth Management Inc. boosted its holdings in NVIDIA by 34.2% during the first quarter. Alterna Wealth Management Inc. now owns 13,080 shares of the computer hardware maker's stock valued at $1,418,000 after acquiring an additional 3,336 shares during the period. Arbor Trust Wealth Advisors LLC grew its position in shares of NVIDIA by 19.0% in the first quarter. Arbor Trust Wealth Advisors LLC now owns 8,772 shares of the computer hardware maker's stock valued at $951,000 after purchasing an additional 1,401 shares during the last quarter. Finally, Pictet North America Advisors SA increased its stake in shares of NVIDIA by 4.6% in the first quarter. Pictet North America Advisors SA now owns 44,988 shares of the computer hardware maker's stock worth $4,876,000 after purchasing an additional 1,981 shares during the period. Institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NVDA. Bank of America increased their target price on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Rosenblatt Securities increased their price objective on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Barclays raised their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Piper Sandler reiterated an "overweight" rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, DA Davidson raised their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $182.03.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded up $3.76 during mid-day trading on Wednesday, hitting $179.27. 170,353,567 shares of the stock were exchanged, compared to its average volume of 149,383,152. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $179.89. The stock's fifty day simple moving average is $153.55 and its two-hundred day simple moving average is $131.72. 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 company has a market cap of $4.37 trillion, a P/E ratio of 57.83, a PEG ratio of 1.55 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results 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 business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. The company's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred 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 directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was 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 owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,264,800 shares of company stock worth $786,735,503 in the last 90 days. Corporate 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.