Stonegate Investment Group LLC Boosts Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Stonegate Investment Group LLC lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,529 shares of the computer hardware maker's stock after acquiring an additional 1,685 shares during the quarter. Stonegate Investment Group LLC's holdings in NVIDIA were worth $16,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of NVDA. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $38,000. Copia Wealth Management purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $50,000. Bruce G. Allen Investments LLC increased its position in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

Shares of NVDA stock traded up $1.22 during mid-day trading on Thursday, hitting $164.10. The stock had a trading volume of 167,093,998 shares, compared to its average volume of 266,635,224. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $164.70. The firm has a market cap of $4.00 trillion, a PE ratio of 52.94, a PEG ratio of 1.42 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The company's 50-day simple moving average is $139.47 and its 200-day simple moving average is $128.43.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its 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 firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The shares were 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. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,296,844 shares of company stock worth $624,019,677. 4.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Raymond James Financial increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Citigroup increased their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Monday. Truist Financial increased their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Oppenheimer reissued an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Monday, June 16th. Finally, Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $177.03.

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.