Ridgeline Wealth Planning LLC Acquires Shares of 2,740 NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Ridgeline Wealth Planning LLC has acquired a new stake in NVIDIA Corporation worth approximately $297,000, purchasing 2,740 shares during the first quarter.
• Several institutional investors have also increased their stakes in NVIDIA, with a combined ownership of 65.27% by hedge funds and institutional investors.
• NVIDIA recently missed earnings expectations, reporting $0.81 earnings per share compared to the expected $0.87, despite a revenue increase of 69.2% year-over-year.

Ridgeline Wealth Planning LLC bought a new stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,740 shares of the computer hardware maker's stock, valued at approximately $297,000.

A number of other institutional investors also recently modified their holdings of the company. Condor Capital Management raised its stake in NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after buying an additional 89 shares during the period. Kelly Financial Services LLC boosted its stake in NVIDIA by 2.0% in the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares during the period. Foundry Financial Group Inc. boosted its stake in NVIDIA by 2.2% in the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after purchasing an additional 96 shares during the period. Mendel Capital Management LLC boosted its stake in NVIDIA by 0.8% in the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after purchasing an additional 96 shares during the period. Finally, Wallace Hart LLC boosted its stake in NVIDIA by 3.9% in the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after purchasing an additional 97 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on 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 sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,489,800 shares of company stock worth $826,553,003 in the last quarter. Company insiders own 4.17% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on NVDA. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Loop Capital raised their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Morgan Stanley raised their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Barclays raised their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

NVIDIA Stock Up 0.2%

NASDAQ:NVDA traded up $0.31 during trading hours on Wednesday, reaching $178.57. The company's stock had a trading volume of 83,959,600 shares, compared to its average volume of 246,394,797. The stock has a 50 day moving average price of $157.13 and a two-hundred day moving average price of $132.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The company has a market capitalization of $4.36 trillion, a P/E ratio of 57.60, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 earnings per share. Equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is 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.