NVIDIA Corporation (NASDAQ:NVDA) Stock Position Lifted by Suncoast Equity Management

Suncoast Equity Management raised its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 560,061 shares of the computer hardware maker's stock after buying an additional 12,910 shares during the period. NVIDIA comprises about 6.9% of Suncoast Equity Management's portfolio, making the stock its 2nd biggest position. Suncoast Equity Management's holdings in NVIDIA were worth $60,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NVDA. Tacita Capital Inc acquired a new position in shares of NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the 4th quarter worth approximately $38,000. Copia Wealth Management acquired a new position in NVIDIA during the 4th quarter worth approximately $50,000. Bruce G. Allen Investments LLC raised its stake 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 buying an additional 327 shares during the period. Finally, LSV Asset Management acquired a new position in NVIDIA during the 4th quarter worth approximately $54,000. Institutional investors own 65.27% of the company's stock.

Insiders Place Their Bets

In related news, Director A Brooke Seawell sold 50,514 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $158.37, for a total value of $7,999,902.18. Following the sale, the director owned 1,974,784 shares in the company, valued at approximately $312,746,542.08. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $158.35, for a total value of $11,876,250.00. Following the completion of the sale, the chief executive officer owned 75,023,225 shares in the company, valued at $11,879,927,678.75. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,296,844 shares of company stock worth $624,019,677 in the last quarter. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NVIDIA stock traded up $1.22 during trading hours on Thursday, reaching $164.10. The company had a trading volume of 167,093,998 shares, compared to its average volume of 266,635,224. NVIDIA Corporation has a one year low of $86.62 and a one year high of $164.70. The business has a fifty day simple moving average of $139.47 and a 200 day simple moving average of $128.43. 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 firm has a market cap of $4.00 trillion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 1.42 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the business earned $0.61 earnings per share. NVIDIA's revenue was up 69.2% on a year-over-year basis. On average, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given 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 (DPR) is presently 1.29%.

Analysts Set New Price Targets

NVDA has been the topic of a number of research reports. Loop Capital upped their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. TD Cowen upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Susquehanna reissued a "positive" rating and issued a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reissued a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $177.03.

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.