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

Key Points

• Silverlake Wealth Management LLC increased its holdings in NVIDIA Corporation by 25% in the 1st quarter, bringing its total to 9,934 shares valued at approximately $1.08 million.
• Several analysts have upgraded their ratings on NVIDIA, with Bank of America raising its price target from $180 to $220, reflecting strong market sentiment.
• Insiders have sold over 5 million shares of NVIDIA stock in the last three months, representing a significant reduction in their ownership stakes during this period.

Silverlake Wealth Management LLC grew its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,934 shares of the computer hardware maker's stock after acquiring an additional 1,984 shares during the period. Silverlake Wealth Management LLC's holdings in NVIDIA were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NVDA shares. Bank of America upped their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. TD Cowen upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Mizuho set a $192.00 price objective 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 note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $182.03.

Insider Activity at NVIDIA

In other news, 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 in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,339,800 shares of company stock valued at $800,141,003. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Trading Down 2.3%

Shares of NVIDIA stock opened at $173.72 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.30. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.53 and a beta of 2.14. The company has a 50-day moving average of $155.30 and a two-hundred day moving average of $132.29.

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

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date of this dividend 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%.

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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