NVIDIA Corporation $NVDA Stock Position Boosted by 1776 Wealth LLC

Key Points

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1776 Wealth LLC grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,255 shares of the computer hardware maker's stock after purchasing an additional 5,839 shares during the quarter. NVIDIA makes up about 2.7% of 1776 Wealth LLC's holdings, making the stock its 8th largest position. 1776 Wealth LLC's holdings in NVIDIA were worth $5,880,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. lifted its stake in NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after buying an additional 864 shares during the last quarter. Centerpoint Advisory Group boosted its stake in shares of NVIDIA by 2.5% during the first 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 period. GSB Wealth Management LLC boosted its stake in shares of NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC boosted its stake in shares of NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares during the period. Finally, Financial Perspectives Inc boosted its stake in shares of NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several recent research reports. Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research note on Thursday, July 10th. They set a "buy" rating and a $185.00 target price for the company. Morgan Stanley reiterated an "overweight" rating and set a $206.00 target price (up previously from $200.00) on shares of NVIDIA in a research note on Monday. Cantor Fitzgerald reiterated an "overweight" rating and set a $240.00 target price (up previously from $200.00) on shares of NVIDIA in a research note on Monday. Finally, UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $187.61.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction that occurred on Monday, August 4th. The shares were 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 approximately $526,501,340.56. The trade was a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Friday, August 15th. The shares were sold at an average price of $179.76, for a total transaction of $13,482,000.00. Following the completion of the transaction, the chief executive officer owned 72,848,225 shares in the company, valued at approximately $13,095,196,926. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,912,440 shares of company stock valued at $902,886,782 over the last ninety days. 4.17% of the stock is owned by corporate insiders.

NVIDIA Stock Up 0.9%

NVDA stock opened at $182.01 on Tuesday. The stock has a market capitalization of $4.44 trillion, a P/E ratio of 58.71, a PEG ratio of 1.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The company has a 50 day moving average price of $164.75 and a two-hundred day moving average price of $135.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its 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 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 firm's revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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.

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