Argent Advisors Inc. Buys 21,605 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Argent Advisors Inc. increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1,102.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,565 shares of the computer hardware maker's stock after buying an additional 21,605 shares during the period. NVIDIA comprises 0.9% of Argent Advisors Inc.'s portfolio, making the stock its 28th largest holding. Argent Advisors Inc.'s holdings in NVIDIA were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Condor Capital Management lifted its stake in shares of NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after buying an additional 89 shares during the period. Kelly Financial Services LLC lifted its stake in shares of NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after buying an additional 94 shares during the period. Foundry Financial Group Inc. lifted its stake in shares of NVIDIA by 2.2% during the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after buying an additional 96 shares during the period. Mendel Capital Management LLC lifted its stake in shares of NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after buying an additional 96 shares during the period. Finally, Wallace Hart LLC lifted its stake in shares of NVIDIA by 3.9% during the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after buying an additional 97 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Activity

In related news, CFO Colette Kress sold 27,650 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the transaction, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $169.54, for a total transaction of $12,715,500.00. Following the completion of the transaction, the chief executive officer owned 74,123,225 shares in the company, valued at approximately $12,566,851,566.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,114,800 shares of company stock worth $760,553,003 over the last ninety days. Insiders own 4.17% of the company's stock.

NVIDIA Stock Down 0.1%

NVDA traded down $0.24 during trading on Friday, reaching $173.50. The company had a trading volume of 121,814,931 shares, compared to its average volume of 162,110,176. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.72. The company has a market cap of $4.23 trillion, a P/E ratio of 55.97, a PEG ratio of 1.53 and a beta of 2.13. The business's fifty day moving average price is $150.95 and its 200 day moving average price is $130.86.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the business earned $0.61 earnings per share. NVIDIA'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 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 dividend yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. The Goldman Sachs Group began coverage on shares of NVIDIA in a research note on Thursday, July 10th. They set a "buy" rating and a $185.00 price target on the stock. Barclays increased their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. Finally, Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $181.22.

NVIDIA 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.