NVIDIA Corporation (NASDAQ:NVDA) is Smith Salley Wealth Management's 3rd Largest Position

Smith Salley Wealth Management increased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 658,691 shares of the computer hardware maker's stock after buying an additional 6,135 shares during the period. NVIDIA accounts for 4.7% of Smith Salley Wealth Management's investment portfolio, making the stock its 3rd biggest position. Smith Salley Wealth Management's holdings in NVIDIA were worth $71,389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NVDA. Condor Capital Management lifted its holdings in shares of NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after acquiring an additional 89 shares during the last quarter. Kelly Financial Services LLC increased its position in shares of NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after acquiring an additional 94 shares during the period. Foundry Financial Group Inc. increased its position in shares of NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after acquiring an additional 96 shares during the period. Mendel Capital Management LLC increased its position in shares of NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after buying an additional 96 shares during the period. Finally, Wallace Hart LLC increased its position in shares of NVIDIA by 3.9% during the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after buying an additional 97 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the sale, the director directly owned 1,729,478 shares of the company's stock, valued at approximately $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $175.22, for a total transaction of $13,141,500.00. Following the sale, the chief executive officer directly owned 73,898,225 shares of the company's stock, valued at approximately $12,948,446,984.50. The trade was 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 5,264,800 shares of company stock valued at $786,735,503. Company insiders own 4.17% of the company's stock.

NVIDIA Trading Up 1.9%

NVIDIA stock traded up $3.25 during trading hours on Monday, hitting $176.75. The company had a trading volume of 139,407,827 shares, compared to its average volume of 155,064,304. The firm has a market cap of $4.31 trillion, a P/E ratio of 57.02, a P/E/G ratio of 1.53 and a beta of 2.13. 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 1 year low of $86.62 and a 1 year high of $177.00. The company has a 50-day moving average price of $151.77 and a two-hundred day moving average price of $131.09.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly 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 return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the previous 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, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA's payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent research reports. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Barclays upped their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Rosenblatt Securities increased 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. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, Piper Sandler restated an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $181.22.

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.