Alpha Cubed Investments LLC boosted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 29.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 795,044 shares of the computer hardware maker's stock after purchasing an additional 182,919 shares during the period. NVIDIA comprises 3.8% of Alpha Cubed Investments LLC's investment portfolio, making the stock its 5th largest position. Alpha Cubed Investments LLC's holdings in NVIDIA were worth $86,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the stock. Horst & Graben Wealth Management LLC increased its stake in NVIDIA by 4.1% in the 1st quarter. Horst & Graben Wealth Management LLC now owns 36,707 shares of the computer hardware maker's stock worth $3,978,000 after purchasing an additional 1,442 shares during the period. Davidson Investment Advisors lifted its stake in NVIDIA by 4,808.1% in the first quarter. Davidson Investment Advisors now owns 220,275 shares of the computer hardware maker's stock worth $23,873,000 after acquiring an additional 215,787 shares during the period. Pekin Hardy Strauss Inc. boosted its holdings in NVIDIA by 3.3% in the first quarter. Pekin Hardy Strauss Inc. now owns 10,967 shares of the computer hardware maker's stock valued at $1,189,000 after acquiring an additional 354 shares in the last quarter. Family Capital Management Inc. boosted its holdings in NVIDIA by 6.7% in the first quarter. Family Capital Management Inc. now owns 11,823 shares of the computer hardware maker's stock valued at $1,281,000 after acquiring an additional 746 shares in the last quarter. Finally, Planning Directions Inc. boosted its holdings in NVIDIA by 134.5% in the first quarter. Planning Directions Inc. now owns 28,201 shares of the computer hardware maker's stock valued at $3,057,000 after acquiring an additional 16,174 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Price Performance
Shares of NASDAQ:NVDA opened at $173.72 on Friday. 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 firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 1.57 and a beta of 2.14. The business has a 50-day simple moving average of $155.30 and a two-hundred day simple moving average of $132.32. 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 announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue 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. On average, analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Jefferies Financial Group lifted their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. DA Davidson lifted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Finally, Morgan Stanley lifted their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday. One investment 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $182.03.
View Our Latest Analysis on NVIDIA
Insider Transactions at NVIDIA
In related news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock valued at $800,141,003 over the last 90 days. 4.17% of the stock is owned by corporate insiders.
NVIDIA Profile
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Free Report)
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.
See Also
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