RWQ Financial Management Services Inc. Buys 36,261 Shares of NVIDIA Corporation (NASDAQ:NVDA)

RWQ Financial Management Services Inc. lifted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 24.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,797 shares of the computer hardware maker's stock after purchasing an additional 36,261 shares during the quarter. NVIDIA accounts for 13.2% of RWQ Financial Management Services Inc.'s portfolio, making the stock its 2nd largest position. RWQ Financial Management Services Inc.'s holdings in NVIDIA were worth $19,920,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hardy Reed LLC raised its stake in shares of NVIDIA by 3.5% in the 1st quarter. Hardy Reed LLC now owns 47,469 shares of the computer hardware maker's stock valued at $5,145,000 after acquiring an additional 1,591 shares in the last quarter. Richard C. Young & CO. LTD. boosted its position in shares of NVIDIA by 3.2% during the 1st quarter. Richard C. Young & CO. LTD. now owns 112,168 shares of the computer hardware maker's stock valued at $12,157,000 after acquiring an additional 3,462 shares in the last quarter. Forte Capital LLC ADV increased its stake in NVIDIA by 0.4% in the first quarter. Forte Capital LLC ADV now owns 234,759 shares of the computer hardware maker's stock valued at $25,443,000 after acquiring an additional 871 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in NVIDIA by 11.9% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 960,111 shares of the computer hardware maker's stock valued at $104,057,000 after buying an additional 102,285 shares in the last quarter. Finally, Pettee Investors Inc. boosted its stake in shares of NVIDIA by 10.1% in the 1st quarter. Pettee Investors Inc. now owns 11,836 shares of the computer hardware maker's stock valued at $1,283,000 after purchasing an additional 1,085 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. Oppenheimer upped their target price on shares of NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. BNP Paribas upgraded shares of NVIDIA to a "hold" rating in a report on Friday, August 1st. Needham & Company LLC lifted their price target on shares of NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Morgan Stanley raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, TD Cowen upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $186.33.

Insider Activity

In related news, CFO Colette Kress sold 27,640 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $181.38, for a total value of $13,603,500.00. Following the completion of the sale, the chief executive officer directly owned 72,998,225 shares of the company's stock, valued at $13,240,418,050.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Company insiders own 4.17% of the company's stock.

NVIDIA Stock Up 0.2%

Shares of NVDA opened at $182.02 on Friday. The company has a market capitalization of $4.44 trillion, a PE ratio of 58.72, a PEG ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock's 50-day moving average price is $163.18 and its two-hundred day moving average price is $135.00.

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 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 company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. On average, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

NVIDIA Company 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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