Sterling Investment Counsel LLC Acquires 13,685 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Sterling Investment Counsel LLC grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 50.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,778 shares of the computer hardware maker's stock after buying an additional 13,685 shares during the quarter. NVIDIA makes up about 1.5% of Sterling Investment Counsel LLC's investment portfolio, making the stock its 15th largest holding. Sterling Investment Counsel LLC's holdings in NVIDIA were worth $4,420,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the 4th quarter valued at about $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the 4th quarter worth approximately $38,000. Copia Wealth Management acquired a new stake in NVIDIA in the 4th quarter worth approximately $50,000. Bruce G. Allen Investments LLC lifted 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 last quarter. Finally, LSV Asset Management acquired a new stake in NVIDIA in the 4th quarter worth approximately $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $157.53, for a total value of $11,814,750.00. Following the completion of the transaction, the chief executive officer owned 75,323,225 shares in the company, valued at approximately $11,865,667,634.25. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,044,919 shares of company stock worth $584,414,209. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA traded down $1.10 during mid-day trading on Monday, reaching $158.24. The company's stock had a trading volume of 139,658,637 shares, compared to its average volume of 267,841,414. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $160.98. The stock has a market cap of $3.86 trillion, a P/E ratio of 51.05, a PEG ratio of 1.41 and a beta of 2.13. The business has a 50-day simple moving average of $136.38 and a two-hundred day simple moving average of $127.81. 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 released 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the business earned $0.61 earnings per share. The business's quarterly revenue was up 69.2% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on NVDA. Mizuho boosted their target price on NVIDIA from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Barclays upped their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Rosenblatt Securities upped their price target on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Bank of America upped their price target on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $176.47.

About NVIDIA

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.