Summit Trail Advisors LLC Acquires 105,959 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Summit Trail Advisors LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 33.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 418,136 shares of the computer hardware maker's stock after buying an additional 105,959 shares during the quarter. NVIDIA accounts for about 1.5% of Summit Trail Advisors LLC's investment portfolio, making the stock its 8th largest position. Summit Trail Advisors LLC's holdings in NVIDIA were worth $45,321,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tacita Capital Inc purchased a new position in NVIDIA during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the 4th quarter worth approximately $38,000. Copia Wealth Management purchased a new position in NVIDIA during the 4th quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA during the 1st quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC grew its position in NVIDIA by 198.2% during 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 in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. DA Davidson lifted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Jefferies Financial Group lifted their target price on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on shares of NVIDIA in a research note on Thursday, July 10th. They set a "buy" rating and a $185.00 target price for the company. Bank of America lifted their target price on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Finally, Citigroup lifted their target price on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $181.22.

NVIDIA Stock Down 0.1%

Shares of NASDAQ NVDA opened at $173.50 on Friday. The company has a market capitalization of $4.23 trillion, a P/E ratio of 55.97, a price-to-earnings-growth ratio of 1.53 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company's 50 day moving average price is $150.95 and its 200-day moving average price is $130.93.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results 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 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 for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Activity

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the sale, the director owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,114,800 shares of company stock worth $760,553,003 in the last quarter. 4.17% of the stock is owned by corporate insiders.

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.

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