NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by Magnus Financial Group LLC

Magnus Financial Group LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,745 shares of the computer hardware maker's stock after acquiring an additional 4,483 shares during the period. Magnus Financial Group LLC's holdings in NVIDIA were worth $4,524,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $43,515,504,000. GAMMA Investing LLC grew its position in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the last quarter. Northern Trust Corp increased its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. Proficio Capital Partners LLC raised its position in NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of NVIDIA in the 4th quarter worth $2,987,733,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $144.12 on Wednesday. The company has a 50-day simple moving average of $124.34 and a 200-day simple moving average of $126.49. 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 company has a market cap of $3.52 trillion, a PE ratio of 46.49, a price-to-earnings-growth ratio of 1.28 and a beta of 2.12. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. On average, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Analysts Set New Price Targets

Several research firms recently issued reports on NVDA. Tigress Financial reissued a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. Bank of America increased their target price on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. TD Cowen lifted their price target on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Mizuho upped their price objective on NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Finally, Arete Research raised NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $173.05.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares of the company's stock, valued at $55,997,190.40. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,560,845 shares of company stock worth $360,351,849. 4.17% of the stock is currently owned by insiders.

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.

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