Rehmann Capital Advisory Group Grows Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Rehmann Capital Advisory Group increased its holdings in NVIDIA Corporation by 5.6%, owning 123,694 shares worth approximately $13.4 million, making it the firm's 23rd largest holding.
• NVIDIA's CEO Jen Hsun Huang and Director A Brooke Seawell sold significant shares of the company recently, with Huang selling 75,000 shares for over $13.4 million.
• Analyst ratings for NVIDIA are overwhelmingly positive, with a consensus rating of "Moderate Buy" and recent price targets ranging from $175 to $220 from various institutions.

Rehmann Capital Advisory Group grew its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,694 shares of the computer hardware maker's stock after purchasing an additional 6,523 shares during the quarter. NVIDIA comprises approximately 0.8% of Rehmann Capital Advisory Group's portfolio, making the stock its 23rd largest holding. Rehmann Capital Advisory Group's holdings in NVIDIA were worth $13,406,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NVDA. Wealth Group Ltd. lifted its stake in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $972,000. Brighton Jones LLC raised its position in shares of NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after buying an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after buying an additional 22,929 shares during the period. Finally, Highview Capital Management LLC DE raised its position in shares of NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock valued at $7,842,000 after buying an additional 3,653 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were 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 approximately $13,181,757,736.50. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the sale, the director directly owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,339,800 shares of company stock valued at $800,141,003. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NVDA opened at $173.72 on Monday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.30. The stock has a market cap of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.53 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a fifty day moving average price of $155.30 and a 200 day moving average price of $132.28.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $43.09 billion. During the same period last year, the firm earned $0.61 earnings per share. NVIDIA's revenue was up 69.2% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the topic of several analyst reports. Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. The Goldman Sachs Group began coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price target on the stock. Morgan Stanley lifted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Bank of America lifted their target price on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $182.03.

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.

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