Principal Securities Inc. Purchases 3,165 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Principal Securities Inc. increased its NVIDIA stake by 1.0%, now holding a total of 323,340 shares worth approximately $35 million, making it the 22nd largest position in their portfolio.
• Despite a year-over-year revenue increase of 69.2%, NVIDIA reported an EPS of $0.81 for the quarter, falling short of analysts' expectations of $0.87.
• NVIDIA's stock has experienced a 2.3% decline, currently trading at $173.72 with a market cap of $4.24 trillion.

Principal Securities Inc. grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,340 shares of the computer hardware maker's stock after purchasing an additional 3,165 shares during the quarter. NVIDIA makes up about 0.8% of Principal Securities Inc.'s investment portfolio, making the stock its 22nd largest position. Principal Securities Inc.'s holdings in NVIDIA were worth $35,044,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. FMR LLC increased its position in shares of NVIDIA by 0.7% during the 4th 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 last quarter. Geode Capital Management LLC increased its position in shares of NVIDIA by 1.7% during the 4th 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 last quarter. Price T Rowe Associates Inc. MD increased its position in shares of NVIDIA by 0.9% during the 4th 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 last quarter. Norges Bank bought a new position in NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp grew its position in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 2.3%

NVIDIA stock opened at $173.72 on Monday. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14. The stock has a fifty day simple moving average of $155.30 and a two-hundred day simple moving average of $132.28. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. 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 (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. Equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal 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 of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's payout ratio is presently 1.29%.

Insider Buying and Selling

In related news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total value of $13,405,500.00. Following the completion of the sale, the chief executive officer directly owned 73,748,225 shares of the company's stock, valued at $13,181,757,736.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock valued at $800,141,003 over the last 90 days. Company insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVDA. Citigroup raised their price target on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group began coverage on NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price target on the stock. Benchmark restated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Oppenheimer raised their price target on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Loop Capital raised their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. One equities research 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $182.03.

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.

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