Golden State Wealth Management LLC Purchases 7,805 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Golden State Wealth Management LLC boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 93,940 shares of the computer hardware maker's stock after buying an additional 7,805 shares during the period. NVIDIA makes up approximately 1.5% of Golden State Wealth Management LLC's holdings, making the stock its 12th biggest holding. Golden State Wealth Management LLC's holdings in NVIDIA were worth $10,181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management acquired a new stake in NVIDIA in the fourth quarter worth $50,000. LSV Asset Management bought a new position in shares of NVIDIA during the 4th quarter worth about $54,000. Finally, Bruce G. Allen Investments LLC lifted its stake 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 in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVIDIA stock traded up $2.60 on Thursday, reaching $173.38. 87,293,891 shares of the company were exchanged, compared to its average volume of 251,909,938. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.25. The firm has a market cap of $4.23 trillion, a price-to-earnings ratio of 55.93, a P/E/G ratio of 1.47 and a beta of 2.13. 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 company's 50-day moving average is $149.41 and its two-hundred day moving average is $130.53.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. As a group, research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is presently 1.29%.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $169.54, for a total value of $12,715,500.00. Following the completion of the sale, the chief executive officer owned 74,123,225 shares in the company, valued at approximately $12,566,851,566.50. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,114,800 shares of company stock valued at $760,553,003 in the last quarter. Company insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NVDA shares. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Citigroup lifted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. 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, Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.