Highland Capital Management LLC increased its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351,111 shares of the computer hardware maker's stock after buying an additional 7,561 shares during the period. NVIDIA accounts for about 2.3% of Highland Capital Management LLC's portfolio, making the stock its 6th largest position. Highland Capital Management LLC's holdings in NVIDIA were worth $38,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the stock. Vista Investment Partners II LLC boosted its stake in NVIDIA by 5.2% in the 1st quarter. Vista Investment Partners II LLC now owns 43,448 shares of the computer hardware maker's stock worth $4,709,000 after purchasing an additional 2,152 shares in the last quarter. Elevated Capital Advisors LLC raised its position in NVIDIA by 16.2% during the 1st quarter. Elevated Capital Advisors LLC now owns 26,026 shares of the computer hardware maker's stock worth $2,821,000 after buying an additional 3,635 shares during the last quarter. Gold Investment Management Ltd. increased its holdings in shares of NVIDIA by 121.8% during the 1st quarter. Gold Investment Management Ltd. now owns 5,479 shares of the computer hardware maker's stock valued at $594,000 after purchasing an additional 3,009 shares in the last quarter. 3Chopt Investment Partners LLC increased its holdings in shares of NVIDIA by 2.8% during the 1st quarter. 3Chopt Investment Partners LLC now owns 160,540 shares of the computer hardware maker's stock valued at $17,401,000 after purchasing an additional 4,350 shares in the last quarter. Finally, Hartmann Taylor Wealth Management LLC purchased a new position in shares of NVIDIA during the 1st quarter valued at approximately $1,098,000. Hedge funds and other institutional investors own 65.27% of the company's stock.
Insider Activity at NVIDIA
In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $172.52, for a total value of $12,939,000.00. Following the transaction, the chief executive officer directly owned 74,348,225 shares in the company, valued at $12,826,555,777. This represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 27,650 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the transaction, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is owned by company insiders.
NVIDIA Stock Down 0.3%
Shares of NASDAQ:NVDA opened at $172.41 on Monday. The stock has a market cap of $4.21 trillion, a price-to-earnings ratio of 55.62, a PEG ratio of 1.52 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.25. The business's 50 day moving average is $146.99 and its 200 day moving average is $129.81.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the prior year, the firm posted $0.61 EPS. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. On average, sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's payout ratio is 1.29%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on NVDA shares. HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Thursday, April 3rd. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Citigroup boosted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group started coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price target on the stock. Finally, UBS Group reissued a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $181.22.
Get Our Latest Stock Analysis on NVDA
NVIDIA Company Profile
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider NVIDIA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NVIDIA wasn't on the list.
While NVIDIA currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
