Ridgecrest Wealth Partners LLC Grows Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Ridgecrest Wealth Partners LLC raised its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,061 shares of the computer hardware maker's stock after purchasing an additional 4,380 shares during the period. NVIDIA makes up about 4.5% of Ridgecrest Wealth Partners LLC's investment portfolio, making the stock its 5th biggest holding. Ridgecrest Wealth Partners LLC's holdings in NVIDIA were worth $8,677,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. FMR LLC boosted its holdings in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 bought a new position in shares of NVIDIA in the fourth quarter valued at about $43,515,504,000. Finally, Northern Trust Corp raised its position 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. Institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NVDA shares. Hsbc Global Res lowered shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. DA Davidson raised their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. TD Cowen lifted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. KeyCorp set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Rosenblatt Securities boosted their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $177.03.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company'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 sale, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,520,246 shares of company stock valued at $660,253,045 in the last 90 days. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Up 0.5%

Shares of NASDAQ:NVDA traded up $0.82 on Friday, hitting $164.92. 193,205,730 shares of the company traded hands, compared to its average volume of 265,988,678. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $167.89. The stock has a 50 day simple moving average of $141.53 and a 200-day simple moving average of $128.77. The company has a market cap of $4.02 trillion, a PE ratio of 53.20, a PEG ratio of 1.45 and a beta of 2.13. 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 (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company'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 earnings per share. As a group, research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's payout ratio is currently 1.29%.

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.