Resonant Capital Advisors LLC Acquires 18,401 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Resonant Capital Advisors LLC increased its stake in NVIDIA Corporation by 26.7%, holding 87,341 shares worth approximately $9.47 million at the end of the most recent quarter.
• Insider trading at NVIDIA included a significant sale of 935,000 shares by Director Mark A. Stevens, totaling over $131.76 million, while CEO Jen Hsun Huang sold 75,000 shares for around $11.44 million.
• NVIDIA's stock recently traded up 1.9% to $176.75, and its market capitalization is reported at $4.31 trillion with an annual earnings per share expected to be 2.77.

Resonant Capital Advisors LLC grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 26.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 87,341 shares of the computer hardware maker's stock after purchasing an additional 18,401 shares during the quarter. Resonant Capital Advisors LLC's holdings in NVIDIA were worth $9,467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. lifted its holdings in shares of NVIDIA by 0.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after buying an additional 864 shares during the period. Centerpoint Advisory Group lifted its holdings in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares during the last quarter. GSB Wealth Management LLC lifted its holdings in shares of NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC increased its position 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 valued at $2,038,000 after acquiring an additional 3,206 shares during the period. Finally, Financial Perspectives Inc increased its position in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVDA traded up $0.01 during mid-day trading on Thursday, reaching $179.28. 78,538,820 shares of the stock traded hands, compared to its average volume of 248,032,719. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.37 trillion, a price-to-earnings ratio of 57.69, a price-to-earnings-growth ratio of 1.55 and a beta of 2.13. The firm has a fifty day moving average price of $153.55 and a 200 day moving average price of $131.72. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30.

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%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. As a group, equities research analysts predict 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. Investors 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 yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Activity

In other news, Director A Brooke Seawell sold 48,792 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the transaction, the director owned 1,729,478 shares of the company's stock, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 5,264,800 shares of company stock worth $786,735,503 over the last three months. Insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. UBS Group reissued a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Bank of America lifted their price target on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Mizuho set a $192.00 price target on NVIDIA and gave the company an "outperform" rating in a report on Tuesday, July 15th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Finally, Loop Capital boosted their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. One equities research 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $182.03.

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.