Root Financial Partners LLC Acquires 14,461 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Root Financial Partners LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,434 shares of the computer hardware maker's stock after acquiring an additional 14,461 shares during the quarter. NVIDIA accounts for approximately 0.7% of Root Financial Partners LLC's investment portfolio, making the stock its 24th biggest holding. Root Financial Partners LLC's holdings in NVIDIA were worth $6,138,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NVDA. Centerpoint Advisory Group grew its position in shares of NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after purchasing an additional 943 shares in the last quarter. GSB Wealth Management LLC lifted its stake in NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC lifted its stake in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Financial Perspectives Inc raised its stake in shares of NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after acquiring an additional 1,265 shares during the last quarter. Finally, Hickory Point Bank & Trust bought a new position in shares of NVIDIA during the fourth quarter valued at about $2,272,000. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Down 0.6%

NASDAQ NVDA opened at $171.38 on Tuesday. The firm has a 50 day simple moving average of $146.99 and a 200-day simple moving average of $129.81. 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 one year low of $86.62 and a one year high of $174.25. The firm has a market cap of $4.18 trillion, a price-to-earnings ratio of 55.28, a PEG ratio of 1.52 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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 firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the business earned $0.61 EPS. The firm's revenue was up 69.2% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared 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 yield of 0.02%. NVIDIA's payout ratio is 1.29%.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent analyst reports. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Benchmark reiterated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Rosenblatt Securities raised their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Loop Capital raised their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $181.22.

Insider Activity

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $172.52, for a total transaction of $12,939,000.00. Following the completion of the sale, the chief executive officer owned 74,348,225 shares of the company's stock, valued at approximately $12,826,555,777. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock worth $734,906,003 over the last 90 days. Company insiders own 4.17% of the company's stock.

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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