Shariaportfolio Inc. Increases Position in NVIDIA Corporation (NASDAQ:NVDA)

Shariaportfolio Inc. increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 60.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,129 shares of the computer hardware maker's stock after acquiring an additional 22,914 shares during the quarter. NVIDIA comprises about 3.4% of Shariaportfolio Inc.'s investment portfolio, making the stock its 8th biggest position. Shariaportfolio Inc.'s holdings in NVIDIA were worth $6,625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Centerpoint Advisory Group increased its holdings 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 worth $4,270,000 after purchasing an additional 943 shares during the period. GSB Wealth Management LLC boosted its position in shares of NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after acquiring an additional 1,043 shares in the last quarter. Variant Private Wealth LLC boosted its position in shares of NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after acquiring an additional 3,206 shares in the last quarter. Financial Perspectives Inc boosted its position in shares of NVIDIA by 2.8% during the 1st 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 in the last quarter. Finally, Hickory Point Bank & Trust acquired a new stake in shares of NVIDIA during the 4th quarter valued at about $2,272,000. Institutional investors own 65.27% of the company's stock.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,520,246 shares of company stock worth $660,253,045 over the last ninety days. 4.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and set a $170.00 target price (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Bank of America lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Hsbc Global Res lowered shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Barclays lifted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Finally, Truist Financial boosted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company 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 assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and a consensus price target of $177.03.

NVIDIA Stock Up 0.5%

Shares of NASDAQ:NVDA opened at $164.92 on Monday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $167.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a market capitalization of $4.02 trillion, a PE ratio of 53.20, a PEG ratio of 1.46 and a beta of 2.13. The company has a 50 day moving average price of $141.53 and a two-hundred day moving average price of $128.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. Analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 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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