NVIDIA Corporation (NASDAQ:NVDA) is StoneCrest Wealth Management Inc.'s 2nd Largest Position

StoneCrest Wealth Management Inc. cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,488 shares of the computer hardware maker's stock after selling 2,599 shares during the period. NVIDIA makes up 5.6% of StoneCrest Wealth Management Inc.'s investment portfolio, making the stock its 2nd biggest holding. StoneCrest Wealth Management Inc.'s holdings in NVIDIA were worth $8,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc acquired a new position in NVIDIA during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA during the 4th quarter worth approximately $40,000. Copia Wealth Management acquired a new position in NVIDIA during the 4th quarter worth approximately $50,000. Finally, LSV Asset Management acquired a new position in NVIDIA during the 4th quarter worth approximately $54,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 0.9%

Shares of NVIDIA stock opened at $145.48 on Thursday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.55 trillion, a PE ratio of 46.93, a P/E/G ratio of 1.27 and a beta of 2.12. The business's fifty day moving average is $124.96 and its two-hundred day moving average is $126.62. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NVDA shares. Raymond James Financial upped their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. DZ Bank upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Barclays upped their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday. Mizuho upped their price target on NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Finally, Piper Sandler restated an "overweight" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $173.05.

Insider Buying and Selling

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the transaction, the director now directly owns 201,044 shares of the company's stock, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,540,845 shares of company stock valued at $357,983,449. 4.17% of the stock is currently owned by company insiders.

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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