Park Place Capital Corp Acquires 3,274 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Park Place Capital Corp grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,421 shares of the computer hardware maker's stock after purchasing an additional 3,274 shares during the quarter. NVIDIA makes up about 2.0% of Park Place Capital Corp's holdings, making the stock its 11th largest position. Park Place Capital Corp's holdings in NVIDIA were worth $7,415,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its stake in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $43,515,504,000. Finally, Northern Trust Corp lifted its stake in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was 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 approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business'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 completion of the sale, the director 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. Insiders sold 5,114,800 shares of company stock worth $760,553,003 over the last quarter. 4.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. HSBC downgraded shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Thursday, April 3rd. Morgan Stanley reiterated an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Raymond James Financial lifted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Barclays boosted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Finally, DA Davidson boosted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus price target of $181.22.

NVIDIA Trading Up 2.2%

Shares of NVDA stock traded up $3.75 during trading hours on Wednesday, hitting $170.78. 152,871,674 shares of the company were exchanged, compared to its average volume of 263,063,842. The firm has a market cap of $4.17 trillion, a P/E ratio of 55.09, a P/E/G ratio of 1.47 and a beta of 2.13. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $174.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a 50 day simple moving average of $149.41 and a two-hundred day simple moving average of $130.53.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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 net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the business posted $0.61 earnings per share. NVIDIA's revenue was up 69.2% on a year-over-year basis. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is presently 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.