Steele Capital Management Inc. Has $12.85 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Steele Capital Management Inc. grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,509 shares of the computer hardware maker's stock after acquiring an additional 2,427 shares during the period. Steele Capital Management Inc.'s holdings in NVIDIA were worth $12,845,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. SC&H Financial Advisors Inc. grew its stake in shares of NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after buying an additional 80 shares during the last quarter. DecisionPoint Financial LLC grew its stake in shares of NVIDIA by 2.9% during the fourth quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock worth $386,000 after buying an additional 80 shares during the last quarter. BCR Wealth Strategies LLC grew its stake in shares of NVIDIA by 3.1% during the fourth quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock worth $391,000 after buying an additional 89 shares during the last quarter. Condor Capital Management grew its stake in shares of NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after buying an additional 89 shares during the last quarter. Finally, Squire Investment Management Company LLC grew its stake in shares of NVIDIA by 4.0% during the fourth quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock worth $317,000 after buying an additional 91 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $157.75 on Friday. The firm's 50-day moving average price is $130.96 and its 200-day moving average price is $126.97. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $158.71. The firm has a market capitalization of $3.85 trillion, a P/E ratio of 50.89, a P/E/G ratio of 1.40 and a beta of 2.12. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

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. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director A Brooke Seawell sold 50,980 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $156.92, for a total transaction of $7,999,781.60. Following the completion of the sale, the director now owns 1,679,361 shares in the company, valued at $263,525,328.12. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,792,267 shares of company stock worth $544,823,117 in the last quarter. Insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVDA. Truist Financial boosted their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Rosenblatt Securities boosted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Barclays boosted 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. Raymond James Financial boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. Finally, Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $175.78.

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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