Tounjian Advisory Partners LLC Makes New $19.29 Million Investment in NVIDIA Corporation (NASDAQ:NVDA)

Tounjian Advisory Partners LLC purchased a new position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 177,970 shares of the computer hardware maker's stock, valued at approximately $19,288,000. NVIDIA makes up 3.6% of Tounjian Advisory Partners LLC's investment portfolio, making the stock its 3rd biggest position.

Other hedge funds also recently bought and sold shares of the company. Tacita Capital Inc purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $40,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $50,000. Finally, LSV Asset Management purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NVDA shares. Bank of America raised their target price on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. DA Davidson raised their target price on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Susquehanna restated a "positive" rating and issued a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. DZ Bank raised NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $173.05.

NVIDIA Trading Down 1.1%

NASDAQ:NVDA opened at $143.83 on Monday. The firm has a market cap of $3.51 trillion, a PE ratio of 46.40, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12. The stock has a fifty day moving average price of $126.37 and a 200 day moving average price of $126.43. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $153.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its 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 company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. Sell-side analysts anticipate 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 will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director now directly owns 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now directly owns 26,671,360 shares of the company's stock, 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 2,469,685 shares of company stock valued at $349,669,962 in the last ninety days. Insiders own 4.17% of the company's stock.

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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