Palisade Capital Management LP Increases Position in NVIDIA Corporation (NASDAQ:NVDA)

Palisade Capital Management LP boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,560 shares of the computer hardware maker's stock after purchasing an additional 10,141 shares during the period. Palisade Capital Management LP's holdings in NVIDIA were worth $25,747,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NVDA. Astoria Portfolio Advisors LLC. increased its stake in shares of NVIDIA by 0.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after purchasing an additional 864 shares during the period. Centerpoint Advisory Group increased 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 purchasing an additional 943 shares during the period. GSB Wealth Management LLC increased 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 purchasing an additional 1,043 shares during the period. Variant Private Wealth LLC increased 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 purchasing an additional 3,206 shares during the period. Finally, Financial Perspectives Inc increased 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 purchasing an additional 1,265 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the sale, the director directly owned 1,729,478 shares in the company, valued at $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,339,800 shares of company stock valued at $800,141,003 over the last ninety days. 4.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on NVDA shares. Jefferies Financial Group raised their price objective on NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Bank of America increased their target price on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, Oppenheimer increased their target price on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

NVIDIA Stock Down 1.0%

Shares of NVIDIA stock traded down $1.80 on Friday, reaching $176.07. The company's stock had a trading volume of 105,302,895 shares, compared to its average volume of 248,096,203. The company has a market capitalization of $4.30 trillion, a price-to-earnings ratio of 56.78, a P/E/G ratio of 1.58 and a beta of 2.13. The firm's fifty day simple moving average is $154.45 and its two-hundred day simple moving average is $132.03. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the business earned $0.61 earnings per share. Equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend 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 (DPR) is currently 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.