Oppenheimer Asset Management Inc. Grows Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Oppenheimer Asset Management Inc. lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 897,102 shares of the computer hardware maker's stock after purchasing an additional 1,690 shares during the quarter. NVIDIA accounts for about 1.2% of Oppenheimer Asset Management Inc.'s holdings, making the stock its 10th largest position. Oppenheimer Asset Management Inc.'s holdings in NVIDIA were worth $97,228,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Tacita Capital Inc bought a new position in NVIDIA in the 4th quarter worth about $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter worth about $38,000. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter worth about $50,000. Bruce G. Allen Investments LLC boosted its holdings in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares in the last quarter. Finally, LSV Asset Management purchased a new position in shares of NVIDIA in the 4th quarter worth about $54,000. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NVDA. The Goldman Sachs Group began coverage on NVIDIA in a report on Thursday. They issued a "buy" rating and a $185.00 price objective for the company. Oppenheimer reiterated an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, June 16th. Raymond James Financial upped their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Citigroup upped their price objective on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, KeyCorp set a $190.00 price objective on NVIDIA in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $177.03.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total value of $12,233,250.00. Following the sale, the chief executive officer directly owned 74,873,225 shares of the company's stock, valued at $12,212,571,729.75. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director A Brooke Seawell sold 49,131 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $162.83, for a total value of $8,000,000.73. Following the completion of the sale, the director directly owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. The trade was a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,520,246 shares of company stock worth $660,253,045. 4.17% of the stock is owned by insiders.

NVIDIA Trading Up 0.5%

NVDA opened at $164.92 on Monday. The business has a 50 day simple moving average of $141.53 and a two-hundred day simple moving average of $128.62. The firm has a market capitalization of $4.02 trillion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.46 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a one year low of $86.62 and a one year high of $167.89.

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 analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the company earned $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 annualized dividend and a yield of 0.02%. NVIDIA's payout ratio is 1.29%.

About NVIDIA

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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