Heritage Wealth Management Inc. CA Raises Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Heritage Wealth Management Inc. CA grew its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 28.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,625 shares of the computer hardware maker's stock after acquiring an additional 2,578 shares during the quarter. NVIDIA comprises approximately 0.9% of Heritage Wealth Management Inc. CA's investment portfolio, making the stock its 29th biggest position. Heritage Wealth Management Inc. CA's holdings in NVIDIA were worth $1,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tacita Capital Inc purchased a new position in shares of NVIDIA during the 4th quarter worth $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the 4th quarter worth $38,000. Copia Wealth Management purchased a new position in NVIDIA during the 4th quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA during the 1st quarter valued at about $51,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in NVIDIA by 198.2% during the 1st 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 during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $1.74 during trading on Tuesday, reaching $178.26. The company had a trading volume of 155,486,898 shares, compared to its average volume of 164,064,272. The firm has a market capitalization of $4.35 trillion, a price-to-earnings ratio of 57.50, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock's fifty day moving average price is $156.27 and its 200 day moving average price is $132.58. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 analyst estimates of $43.09 billion. During the same period in the previous year, the firm posted $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's payout ratio is 1.29%.

Analysts Set New Price Targets

A number of equities analysts recently commented on NVDA shares. Oppenheimer raised their target price on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup raised their target price on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 7th. Morgan Stanley raised their target price on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. TD Cowen raised their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, The Goldman Sachs Group assumed coverage on NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average target price of $182.03.

Insider Buying and Selling

In related news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 that occurred on Monday, August 4th. The shares were sold at an average price of $178.16, for a total value of $13,362,000.00. Following the completion of the sale, the chief executive officer owned 73,523,225 shares in the company, valued at approximately $13,098,897,766. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,489,800 shares of company stock worth $826,553,003. Company insiders own 4.17% of the company's stock.

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.