NVIDIA Corporation (NASDAQ:NVDA) Stock Position Increased by Wedmont Private Capital

Wedmont Private Capital raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 414,908 shares of the computer hardware maker's stock after purchasing an additional 13,960 shares during the period. NVIDIA makes up about 2.3% of Wedmont Private Capital's investment portfolio, making the stock its 10th largest holding. Wedmont Private Capital's holdings in NVIDIA were worth $46,026,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new stake in NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the 4th quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the 4th quarter worth $40,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the 4th quarter worth $50,000. Finally, LSV Asset Management purchased a new position in shares of NVIDIA in the 4th quarter worth $54,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the transaction, the director now owns 201,044 shares in the company, valued at $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the director now owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,469,685 shares of company stock worth $349,669,962. Corporate insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NVDA shares. William Blair restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Susquehanna restated a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Finally, Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $173.05.

NVIDIA Trading Down 1.1%

NVDA opened at $143.83 on Friday. The firm has a market cap of $3.51 trillion, a P/E ratio of 46.40, a P/E/G 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. 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 stock has a 50-day moving average of $126.37 and a 200 day moving average of $126.69.

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 company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 EPS. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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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