Topsail Wealth Management LLC Purchases 1,956 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Topsail Wealth Management LLC increased its holdings in NVIDIA Corporation by 19.2%, acquiring an additional 1,956 shares, raising its total ownership to 12,143 shares valued at $1,316,000.
• NVIDIA reported earnings of $0.81 per share, missing analyst estimates by $0.06, but its quarterly revenue grew by 69.2% year-over-year to $44.06 billion.
• The company's stock currently has a market capitalization of $4.24 trillion, with a price-to-earnings ratio of 56.04 and a consensus rating of "Moderate Buy" according to various analysts.

Topsail Wealth Management LLC lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 19.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,143 shares of the computer hardware maker's stock after acquiring an additional 1,956 shares during the period. Topsail Wealth Management LLC's holdings in NVIDIA were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. lifted its holdings in shares of NVIDIA by 0.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after acquiring an additional 864 shares during the period. Centerpoint Advisory Group lifted its holdings in shares of NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares during the period. GSB Wealth Management LLC lifted its holdings in shares of NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its holdings in shares of NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after acquiring an additional 3,206 shares during the period. Finally, Financial Perspectives Inc lifted its stake in NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after purchasing an additional 1,265 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Down 2.3%

NASDAQ:NVDA opened at $173.72 on Monday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14. The firm has a fifty day simple moving average of $155.30 and a two-hundred day simple moving average of $132.28. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30.

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 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 the consensus estimate of $43.09 billion. During the same period last year, the business posted $0.61 earnings per share. The firm's quarterly revenue was up 69.2% on a year-over-year basis. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed 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 dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock valued at $800,141,003 over the last ninety days. 4.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Bank of America increased their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. DA Davidson increased their price objective 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. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Finally, Rosenblatt Securities increased their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

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.

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