OMNI 360 Wealth Inc. Boosts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• OMNI 360 Wealth Inc. increased its stake in NVIDIA Corporation by 44.6% during the first quarter, owning 14,610 shares valued at approximately $1,583,000.
• NVIDIA reported $44.06 billion in revenue for the quarter, exceeding analyst estimates, though it missed earnings per share expectations with $0.81, below the consensus of $0.87.
• The company's stock currently has a market capitalization of $4.24 trillion, with analysts maintaining a consensus rating of "Moderate Buy" and an average target price of $182.03.

OMNI 360 Wealth Inc. raised its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 44.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,610 shares of the computer hardware maker's stock after purchasing an additional 4,508 shares during the quarter. NVIDIA accounts for approximately 0.9% of OMNI 360 Wealth Inc.'s holdings, making the stock its 28th biggest holding. OMNI 360 Wealth Inc.'s holdings in NVIDIA were worth $1,583,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new stake in NVIDIA in the 4th quarter worth about $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of NVIDIA during the first quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 2.3%

NASDAQ:NVDA opened at $173.72 on Friday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The firm has a fifty day simple moving average of $155.30 and a 200-day simple moving average of $132.29. 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 capitalization of $4.24 trillion, a P/E ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company's quarterly revenue was up 69.2% on a year-over-year basis. On average, equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,339,800 shares of company stock worth $800,141,003. 4.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVDA. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. The Goldman Sachs Group began coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 target price on the stock. Needham & Company LLC raised their target price on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Oppenheimer raised their target price on shares of NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Jefferies Financial Group increased their price objective on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.

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