Sound Income Strategies LLC Increases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Sound Income Strategies LLC raised its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,713 shares of the computer hardware maker's stock after purchasing an additional 7,893 shares during the quarter. Sound Income Strategies LLC's holdings in NVIDIA were worth $6,038,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NVDA. FMR LLC grew its position in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its position in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after buying an additional 3,721,331 shares during the last quarter. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at about $43,515,504,000. Finally, Northern Trust Corp boosted its stake in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm'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 transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock valued at $584,414,209 in the last quarter. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Up 1.2%

Shares of NVIDIA stock traded up $1.90 on Thursday, reaching $159.15. 142,792,199 shares of the company were exchanged, compared to its average volume of 262,446,781. The company has a market capitalization of $3.88 trillion, a price-to-earnings ratio of 51.32, a PEG ratio of 1.36 and a beta of 2.13. 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 company has a 50-day moving average of $134.36 and a 200 day moving average of $127.45. NVIDIA Corporation has a one year low of $86.62 and a one year high of $160.98.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business 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 quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 EPS. On average, equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NVDA. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. Susquehanna reaffirmed a "positive" rating and set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating and issued a $170.00 target price (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Barclays increased their price objective 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. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $176.19.

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.