NVIDIA Corporation (NASDAQ:NVDA) Stock Holdings Lifted by Austin Wealth Management LLC

Key Points

• Austin Wealth Management LLC increased its stake in NVIDIA by 24%, owning 19,102 shares valued at approximately $2 million at the end of the last quarter.
• NVIDIA reported a quarterly earnings loss, with $0.81 earnings per share missing the consensus estimate of $0.87, despite a revenue increase of 69.2% year-over-year.
• Several brokerages have revised their price targets for NVIDIA, with Rosenblatt Securities and others increasing their targets to as high as $200, indicating strong market optimism.

Austin Wealth Management LLC raised its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 24.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,102 shares of the computer hardware maker's stock after purchasing an additional 3,699 shares during the quarter. Austin Wealth Management LLC's holdings in NVIDIA were worth $2,033,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wealth Group Ltd. grew its holdings in NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after purchasing an additional 100 shares during the last quarter. Brighton Jones LLC grew its holdings in NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after purchasing an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in NVIDIA by 1.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after purchasing an additional 22,929 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in NVIDIA by 6.7% during the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock valued at $7,842,000 after purchasing an additional 3,653 shares during the last quarter. Finally, Hudson Value Partners LLC grew its holdings in NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock valued at $6,805,000 after purchasing an additional 11,900 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $179.42 on Thursday. The stock has a market capitalization of $4.38 trillion, a P/E ratio of 57.88, a P/E/G ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.30. 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 business has a 50-day moving average price of $158.02 and a two-hundred day moving average price of $133.22.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 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 for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. Equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is 1.29%.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 27,640 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.06, for a total value of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares of the company's stock, valued at $526,501,340.56. This represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.16, for a total value of $13,362,000.00. Following the completion of the sale, the chief executive officer directly owned 73,523,225 shares of the company's stock, valued at approximately $13,098,897,766. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,537,440 shares of company stock valued at $835,035,782. 4.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NVDA. DA Davidson increased their price target on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Rosenblatt Securities increased their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Jefferies Financial Group increased their price target on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Barclays increased their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Finally, Truist Financial boosted their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $183.75.

NVIDIA Company 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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