Phraction Management LLC Grows Position in NVIDIA Corporation (NASDAQ:NVDA)

Phraction Management LLC grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 58.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,534 shares of the computer hardware maker's stock after purchasing an additional 1,680 shares during the quarter. Phraction Management LLC's holdings in NVIDIA were worth $491,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NVDA. Tacita Capital Inc purchased a new stake in NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the fourth quarter worth $38,000. Copia Wealth Management purchased a new stake in NVIDIA in the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA in the first quarter worth $51,000. Finally, Bruce G. Allen Investments LLC lifted its stake in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Truist Financial raised their price target on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Citigroup increased 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, DA Davidson increased their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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 dated 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,114,800 shares of company stock valued at $760,553,003. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 0.1%

NVDA stock opened at $173.50 on Friday. The business's 50-day moving average price is $150.95 and its 200-day moving average price is $130.93. 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 Corporation has a twelve month low of $86.62 and a twelve month high of $174.72. The stock has a market cap of $4.23 trillion, a P/E ratio of 55.97, a PEG ratio of 1.53 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results 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 period in the prior year, the firm posted $0.61 EPS. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid 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 of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

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.

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