NVIDIA Corporation (NASDAQ:NVDA) Shares Acquired by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC increased its stake in NVIDIA Corporation by 9.6% in the first quarter, owning 551,657 shares valued at approximately $59.79 million, making it the firm's 9th largest holding.
• The stock has received multiple upgrades from research firms, with analysts generally rating it as a "Moderate Buy" and setting a consensus price target of $182.03.
• Several insiders, including Directors Tench Coxe and Mark A. Stevens, sold significant amounts of stock recently, totaling over $274 million in sales, which may indicate a shift in confidence among executives.

Axxcess Wealth Management LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 551,657 shares of the computer hardware maker's stock after purchasing an additional 48,158 shares during the quarter. NVIDIA comprises approximately 1.6% of Axxcess Wealth Management LLC's investment portfolio, making the stock its 9th largest holding. Axxcess Wealth Management LLC's holdings in NVIDIA were worth $59,789,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. FMR LLC boosted its holdings in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC boosted its holdings in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after acquiring an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new position in NVIDIA during the 4th quarter worth $43,515,504,000. Finally, Northern Trust Corp boosted its holdings in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVDA. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Rosenblatt Securities lifted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Bank of America lifted their target price on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Finally, TD Cowen lifted their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One investment 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $182.03.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,339,800 shares of company stock valued at $800,141,003 over the last ninety days. Insiders own 4.17% of the company's stock.

NVIDIA Stock Down 2.3%

Shares of NASDAQ NVDA opened at $173.72 on Monday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm's 50 day simple moving average is $155.30 and its two-hundred day simple moving average is $132.28. The stock has a market capitalization of $4.24 trillion, a P/E ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 the consensus estimate of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm's revenue was up 69.2% on a year-over-year basis. As a group, analysts expect 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. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

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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