Tritonpoint Wealth LLC Buys 3,383 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Tritonpoint Wealth LLC grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,160 shares of the computer hardware maker's stock after acquiring an additional 3,383 shares during the period. NVIDIA comprises approximately 1.0% of Tritonpoint Wealth LLC's investment portfolio, making the stock its 22nd biggest holding. Tritonpoint Wealth LLC's holdings in NVIDIA were worth $10,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Norges Bank bought a new position in NVIDIA in the fourth quarter worth approximately $43,515,504,000. GAMMA Investing LLC raised its stake in NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after buying an additional 48,439,859 shares in the last quarter. Northern Trust Corp raised its stake in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC raised its stake in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after buying an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after buying an additional 23,948,733 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. DA Davidson boosted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Citigroup reaffirmed a "buy" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. One investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $175.78.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the transaction, the director now owns 201,044 shares in the company, valued at approximately $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Monday, June 9th. The stock was 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 now owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,792,267 shares of company stock valued at $544,823,117. 4.17% of the stock is owned by insiders.

NVIDIA Price Performance

NASDAQ:NVDA opened at $157.75 on Friday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $158.71. 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 firm has a market cap of $3.85 trillion, a price-to-earnings ratio of 50.89, a PEG ratio of 1.40 and a beta of 2.12. The firm's fifty day moving average is $130.96 and its two-hundred day moving average is $126.97.

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 the consensus estimate 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 analysts' expectations of $43.09 billion. During the same period in the previous year, the company posted $0.61 earnings per share. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. Research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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 $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

NVIDIA 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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