Pacific Heights Asset Management LLC Increases Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Pacific Heights Asset Management LLC increased its stake in NVIDIA Corporation by 126.9%, making NVIDIA its 4th largest holding, valued at approximately $82.37 million.
• Analysts have been bullish on NVIDIA, with ratings upgrades leading to target prices ranging from $180 to $200, contributing to an average rating of "Moderate Buy".
• NVIDIA reported a 69.2% increase in revenue to $44.06 billion for the most recent quarter, despite missing earnings per share expectations by $0.06.

Pacific Heights Asset Management LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 126.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 760,000 shares of the computer hardware maker's stock after purchasing an additional 425,000 shares during the quarter. NVIDIA comprises 5.6% of Pacific Heights Asset Management LLC's holdings, making the stock its 4th largest holding. Pacific Heights Asset Management LLC's holdings in NVIDIA were worth $82,369,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. Paul R. Ried Financial Group LLC raised its stake in shares of NVIDIA by 7.4% during the 1st quarter. Paul R. Ried Financial Group LLC now owns 3,822 shares of the computer hardware maker's stock valued at $414,000 after purchasing an additional 262 shares during the period. IFM Investors Pty Ltd raised its position in shares of NVIDIA by 9.3% in the 1st quarter. IFM Investors Pty Ltd now owns 5,076,075 shares of the computer hardware maker's stock worth $550,145,000 after acquiring an additional 430,174 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of NVIDIA by 2.1% in the 1st quarter. OneDigital Investment Advisors LLC now owns 394,972 shares of the computer hardware maker's stock worth $42,807,000 after buying an additional 8,039 shares during the last quarter. 44 Wealth Management LLC boosted its stake in NVIDIA by 50.5% during the 1st quarter. 44 Wealth Management LLC now owns 7,016 shares of the computer hardware maker's stock valued at $760,000 after purchasing an additional 2,353 shares during the last quarter. Finally, Spear Holdings RSC Ltd purchased a new position in shares of NVIDIA in the 1st quarter worth $15,899,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on 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 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 position. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock valued at $800,141,003 over the last quarter. Insiders own 4.17% of the company's stock.

NVIDIA Trading Down 2.3%

Shares of NASDAQ:NVDA traded down $4.15 during mid-day trading on Friday, reaching $173.72. The stock had a trading volume of 203,669,565 shares, compared to its average volume of 248,821,531. The firm has a market cap of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.58 and a beta of 2.13. The firm has a 50 day simple moving average of $154.45 and a two-hundred day simple moving average of $132.03. 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 twelve month low of $86.62 and a twelve month high of $183.30.

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

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVDA. Mizuho set a $192.00 target price on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Rosenblatt Securities increased their price target on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, Oppenheimer increased their target price on shares of NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average target price of $182.03.

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.