Outfitter Financial LLC Makes New Investment in NVIDIA Corporation (NASDAQ:NVDA)

Outfitter Financial LLC acquired a new position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,615 shares of the computer hardware maker's stock, valued at approximately $500,000.

Other large investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after buying an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG raised its stake in shares of 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 period. Highview Capital Management LLC DE raised its stake in shares of 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 period. Hudson Value Partners LLC raised its stake in shares of 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 period. Finally, Summit X LLC grew its position in shares of NVIDIA by 3.5% during the fourth quarter. Summit X LLC now owns 136,851 shares of the computer hardware maker's stock worth $18,382,000 after buying an additional 4,630 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,837,440 shares of company stock worth $889,404,782. Corporate insiders own 4.17% of the company's stock.

NVIDIA Trading Up 0.2%

Shares of NVDA opened at $182.02 on Friday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The business's 50-day moving average price is $163.18 and its 200 day moving average price is $135.00. The stock has a market capitalization of $4.44 trillion, a P/E ratio of 58.72, a P/E/G ratio of 1.60 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the company earned $0.61 EPS. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. Analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

NVDA has been the subject of a number of recent analyst reports. Needham & Company LLC raised their price target 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. DA Davidson lifted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Jefferies Financial Group boosted their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Citigroup boosted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, TD Cowen boosted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One equities research 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $186.33.

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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