Suncoast Equity Management Purchases 12,910 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Suncoast Equity Management grew its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 560,061 shares of the computer hardware maker's stock after buying an additional 12,910 shares during the period. NVIDIA makes up 6.9% of Suncoast Equity Management's portfolio, making the stock its 2nd largest holding. Suncoast Equity Management's holdings in NVIDIA were worth $60,699,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Tacita Capital Inc bought a new position in NVIDIA during the fourth quarter valued at $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the 4th quarter worth about $38,000. Copia Wealth Management bought a new position in NVIDIA during the 4th quarter valued at about $50,000. Bruce G. Allen Investments LLC grew its holdings 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 valued at $53,000 after purchasing an additional 327 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in NVIDIA in the 4th quarter worth about $54,000. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup upped their target price on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday. Rosenblatt Securities upped their price objective on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Loop Capital lifted their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Piper Sandler reissued an "overweight" rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, TD Cowen raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have assigned 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 $177.03.

Insider Transactions at NVIDIA

In related news, Director A Brooke Seawell sold 49,131 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $162.83, for a total value of $8,000,000.73. Following the completion of the transaction, the director directly owned 1,826,382 shares of the company's stock, valued at $297,389,781.06. This trade represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total transaction of $12,233,250.00. Following the sale, the chief executive officer directly owned 74,873,225 shares in the company, valued at approximately $12,212,571,729.75. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,520,246 shares of company stock valued at $660,253,045. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Up 0.5%

NASDAQ:NVDA traded up $0.82 during midday trading on Friday, reaching $164.92. 193,205,730 shares of the stock traded hands, compared to its average volume of 265,988,678. The stock has a market capitalization of $4.02 trillion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.45 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $167.89. 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 business has a 50-day moving average of $141.53 and a two-hundred day moving average of $128.77.

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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The business's revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

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.