Capital Investment Advisory Services LLC Grows Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Capital Investment Advisory Services LLC increased its holdings in NVIDIA Corporation by 16.6% during the first quarter, owning 269,599 shares valued at approximately $29.2 million.
• NVIDIA reported quarterly earnings of $0.81 per share, below the consensus estimate of $0.87, despite achieving revenue of $44.06 billion, surpassing analyst expectations.
• Wall Street analysts are optimistic about NVIDIA, with multiple firms increasing their price targets, including Bank of America raising its target from $180 to $220.

Capital Investment Advisory Services LLC grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 16.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 269,599 shares of the computer hardware maker's stock after purchasing an additional 38,417 shares during the quarter. NVIDIA comprises about 2.6% of Capital Investment Advisory Services LLC's investment portfolio, making the stock its 3rd biggest position. Capital Investment Advisory Services LLC's holdings in NVIDIA were worth $29,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tacita Capital Inc bought a new stake in shares of NVIDIA in the fourth quarter valued at about $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA in the first quarter valued at $51,000. Finally, Bruce G. Allen Investments LLC boosted its stake in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Trading Down 2.3%

NVDA traded down $4.15 during trading on Friday, reaching $173.72. 203,669,565 shares of the stock traded hands, compared to its average volume of 248,821,531. 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's 50-day moving average is $154.45 and its 200 day moving average is $132.03. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The stock has a market capitalization of $4.24 trillion, a PE ratio of 56.04, a P/E/G ratio of 1.58 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the business earned $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. Equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.

Analysts Set New Price Targets

NVDA has been the topic of a number of analyst reports. Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Loop Capital increased their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Mizuho set a $192.00 target price on shares of NVIDIA and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the sale, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock worth $800,141,003 over the last quarter. Company insiders own 4.17% of the company's stock.

About NVIDIA

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.