Smithbridge Asset Management Inc. DE Takes $15.04 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Smithbridge Asset Management Inc. DE purchased a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 138,807 shares of the computer hardware maker's stock, valued at approximately $15,044,000. NVIDIA accounts for about 2.8% of Smithbridge Asset Management Inc. DE's holdings, making the stock its 5th biggest holding.

A number of other institutional investors also recently bought and sold shares of NVDA. Tacita Capital Inc bought a new position in NVIDIA in the 4th quarter worth $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter worth $38,000. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter worth $50,000. Bruce G. Allen Investments LLC raised its holdings in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares during the period. Finally, LSV Asset Management bought a new position in NVIDIA in the 4th quarter worth $54,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 1.8%

NVDA opened at $157.75 on Friday. The firm has a market cap of $3.85 trillion, a P/E ratio of 50.89, a P/E/G ratio of 1.37 and a beta of 2.12. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $158.71. 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 has a 50-day moving average of $130.96 and a 200 day moving average of $127.05.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly 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 company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 EPS. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Arete Research raised NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research note on Thursday, April 3rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $175.78.

Insiders Place Their Bets

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now owns 201,044 shares of the company's stock, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 20,000 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $144.21, for a total transaction of $2,884,200.00. Following the completion of the sale, the chief financial officer now directly owns 173,060 shares of the company's stock, valued at approximately $24,956,982.60. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,792,267 shares of company stock valued at $544,823,117 over the last 90 days. Insiders own 4.17% of the company's stock.

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.

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