Turtle Creek Wealth Advisors LLC Boosts Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Turtle Creek Wealth Advisors LLC increased its holdings in NVIDIA by 103.3%, making the stock its 7th largest position, valued at approximately $17.5 million.
• Several hedge funds significantly boosted their investments in NVIDIA, including Norges Bank with a stake valued at around $43.5 billion and GAMMA Investing LLC which increased its position by 12,173.2%.
• Analysts have raised target prices for NVIDIA shares, with Bank of America increasing theirs from $180 to $220, and the stock currently holds an average rating of "Moderate Buy".

Turtle Creek Wealth Advisors LLC grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 103.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 161,411 shares of the computer hardware maker's stock after buying an additional 82,015 shares during the period. NVIDIA accounts for approximately 2.6% of Turtle Creek Wealth Advisors LLC's holdings, making the stock its 7th biggest holding. Turtle Creek Wealth Advisors LLC's holdings in NVIDIA were worth $17,494,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Copia Wealth Management bought a new stake in shares of NVIDIA during the 4th quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of NVIDIA in the first quarter valued at approximately $51,000. Bruce G. Allen Investments LLC boosted its holdings in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after acquiring an additional 327 shares in the last quarter. LSV Asset Management bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $54,000. Finally, Delos Wealth Advisors LLC lifted its stake in NVIDIA by 134.8% during the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock valued at $66,000 after purchasing an additional 283 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 0.4%

NVDA traded down $0.64 during trading on Monday, reaching $182.06. 138,011,711 shares of the company's stock were exchanged, compared to its average volume of 244,601,375. 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 company's fifty day moving average price is $159.82 and its 200-day moving average price is $133.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.88.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. As a group, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVDA. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Needham & Company LLC increased their price target on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Rosenblatt Securities increased their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Morgan Stanley raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $183.75.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's 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 completion of the transaction, the chief executive officer owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,687,440 shares of company stock worth $862,095,782 over the last ninety days. 4.17% of the stock is owned by corporate 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.