Canvas Wealth Advisors LLC Purchases 41,298 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Canvas Wealth Advisors LLC increased its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 52.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,365 shares of the computer hardware maker's stock after acquiring an additional 41,298 shares during the quarter. NVIDIA makes up 3.0% of Canvas Wealth Advisors LLC's holdings, making the stock its 9th largest holding. Canvas Wealth Advisors LLC's holdings in NVIDIA were worth $11,903,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC increased its holdings in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its stake in NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp increased its stake in shares of 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 purchasing an additional 36,266,817 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $3.08 during trading on Tuesday, hitting $168.30. 133,105,146 shares of the company were exchanged, compared to its average volume of 262,897,397. The firm has a 50 day moving average price of $146.99 and a 200 day moving average price of $129.81. 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 stock has a market capitalization of $4.11 trillion, a price-to-earnings ratio of 54.21, a P/E/G ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $174.25.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 analysts' expectations of $43.09 billion. During the same period last year, the company posted $0.61 earnings per share. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $172.52, for a total transaction of $12,939,000.00. Following the transaction, the chief executive officer owned 74,348,225 shares in the company, valued at approximately $12,826,555,777. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the transaction, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,964,800 shares of company stock valued at $734,906,003 in the last quarter. Company insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several recent analyst reports. The Goldman Sachs Group assumed coverage on shares of NVIDIA in a research note on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective for the company. DA Davidson lifted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Bank of America upped their price objective on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Finally, Mizuho set a $192.00 price objective on shares of NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $181.22.

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.