NVIDIA Corporation (NASDAQ:NVDA) Shares Acquired by Carnegie Lake Advisors LLC

Key Points

• Carnegie Lake Advisors LLC increased its stake in NVIDIA Corporation by 33.3%, now owning 6,710 shares valued at approximately $727,000.
• NVIDIA's quarterly earnings missed expectations with an EPS of $0.81, but revenues rose to $44.06 billion, up 69.2% year-over-year.
• Recent analyst upgrades raised NVIDIA's price targets significantly, with Mizuho increasing theirs from $192 to $205 and several other firms also adjusting their targets to around $200.

Carnegie Lake Advisors LLC increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 33.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,710 shares of the computer hardware maker's stock after acquiring an additional 1,675 shares during the period. Carnegie Lake Advisors LLC's holdings in NVIDIA were worth $727,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Condor Capital Management lifted its position in NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after purchasing an additional 89 shares during the period. High Note Wealth LLC lifted its position in NVIDIA by 0.5% in the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock worth $1,937,000 after purchasing an additional 91 shares during the period. Kelly Financial Services LLC lifted its position in NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after purchasing an additional 94 shares during the period. Mendel Capital Management LLC lifted its position in NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after purchasing an additional 96 shares during the period. Finally, Affiance Financial LLC lifted its position in NVIDIA by 0.7% in the first quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker's stock worth $1,479,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $180.45 on Friday. The company has a 50-day simple moving average of $163.96 and a 200-day simple moving average of $135.36. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.60 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The company's revenue for the quarter was up 69.2% on a year-over-year basis. On average, analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given 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 yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NVDA shares. Mizuho upped their price target on shares of NVIDIA from $192.00 to $205.00 and gave the stock an "outperform" rating in a research report on Thursday. Jefferies Financial Group boosted their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Morgan Stanley boosted their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Loop Capital boosted their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Finally, TD Cowen boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.33.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 20,000 shares of NVIDIA stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $3,561,200.00. Following the transaction, the chief financial officer owned 153,060 shares in the company, valued at $27,253,863.60. This trade represents a 11.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the completion of the transaction, the chief executive officer owned 72,998,225 shares in the company, valued at approximately $13,240,418,050.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,837,440 shares of company stock worth $889,404,782. 4.17% of the stock is owned by company 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.

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