Park Place Capital Corp Boosts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Park Place Capital Corp lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,421 shares of the computer hardware maker's stock after purchasing an additional 3,274 shares during the period. NVIDIA accounts for 2.0% of Park Place Capital Corp's holdings, making the stock its 11th biggest position. Park Place Capital Corp's holdings in NVIDIA were worth $7,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NVDA. Condor Capital Management grew its position in NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after acquiring an additional 89 shares during the last quarter. Kelly Financial Services LLC boosted its position in shares of NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after acquiring an additional 94 shares in the last quarter. Macroview Investment Management LLC raised its stake in shares of NVIDIA by 2.9% during the 4th quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker's stock worth $461,000 after buying an additional 96 shares in the last quarter. Foundry Financial Group Inc. raised its position in shares of NVIDIA by 2.2% in the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock worth $589,000 after buying an additional 96 shares during the period. Finally, Wallace Hart LLC raised its position in NVIDIA by 3.9% in the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after purchasing an additional 97 shares during the period. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Down 1.8%

Shares of NVDA stock traded down $3.16 on Tuesday, hitting $168.22. The stock had a trading volume of 133,105,146 shares, compared to its average volume of 262,895,036. 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 52-week low of $86.62 and a 52-week high of $174.25. The stock's 50 day moving average is $146.99 and its 200-day moving average is $129.81. The firm has a market capitalization of $4.10 trillion, a price-to-earnings ratio of 54.21, a P/E/G ratio of 1.52 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVDA. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Loop Capital increased their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Finally, UBS Group reaffirmed 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, four have issued a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $181.22.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president directly 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 at this link. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock worth $734,906,003 over the last 90 days. Company insiders own 4.17% of the company's stock.

NVIDIA Company 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.