Palumbo Wealth Management LLC Boosts Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Palumbo Wealth Management LLC lifted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 45.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,564 shares of the computer hardware maker's stock after purchasing an additional 12,946 shares during the quarter. NVIDIA comprises about 1.5% of Palumbo Wealth Management LLC's portfolio, making the stock its 16th biggest position. Palumbo Wealth Management LLC's holdings in NVIDIA were worth $4,505,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Centerpoint Advisory Group boosted its position in shares of NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after purchasing an additional 943 shares in the last quarter. GSB Wealth Management LLC raised its stake in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares during the last quarter. Variant Private Wealth LLC raised its stake in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after acquiring an additional 3,206 shares during the last quarter. Financial Perspectives Inc raised its stake in NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after acquiring an additional 1,265 shares during the last quarter. Finally, Hickory Point Bank & Trust purchased a new position in NVIDIA in the 4th quarter worth $2,272,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,767,150 shares of company stock valued at $701,030,045. 4.17% of the stock is owned by company insiders.

NVIDIA Trading Up 0.4%

Shares of NVDA stock traded up $0.67 during trading on Wednesday, hitting $171.37. 158,313,901 shares of the stock traded hands, compared to its average volume of 265,189,831. The firm has a market capitalization of $4.18 trillion, a P/E ratio of 55.28, a price-to-earnings-growth ratio of 1.45 and a beta of 2.13. 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 firm's fifty day moving average price is $143.67 and its 200-day moving average price is $129.10. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $172.40.

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

NVIDIA Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NVDA shares. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday, March 19th. Needham & Company LLC raised their target price on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Oppenheimer raised their target price on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus 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.