TruNorth Capital Management LLC Boosts Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

TruNorth Capital Management LLC lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,585 shares of the computer hardware maker's stock after buying an additional 1,485 shares during the period. NVIDIA comprises 0.7% of TruNorth Capital Management LLC's investment portfolio, making the stock its 21st biggest holding. TruNorth Capital Management LLC's holdings in NVIDIA were worth $2,881,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. High Note Wealth LLC raised its stake in shares of NVIDIA by 0.5% during the 1st quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock worth $1,937,000 after buying an additional 91 shares in the last quarter. Fulton Breakefield Broenniman LLC grew its holdings in shares of NVIDIA by 5.0% in the 1st quarter. Fulton Breakefield Broenniman LLC now owns 201,171 shares of the computer hardware maker's stock worth $21,803,000 after acquiring an additional 9,548 shares during the period. Stephens Inc. AR grew its holdings in shares of NVIDIA by 3.6% in the 1st quarter. Stephens Inc. AR now owns 705,207 shares of the computer hardware maker's stock worth $76,430,000 after acquiring an additional 24,436 shares during the period. Financial Security Advisor Inc. grew its holdings in shares of NVIDIA by 5.9% in the 1st quarter. Financial Security Advisor Inc. now owns 38,954 shares of the computer hardware maker's stock worth $4,222,000 after acquiring an additional 2,180 shares during the period. Finally, Prism Advisors Inc. increased its position in NVIDIA by 75.3% during the first quarter. Prism Advisors Inc. now owns 3,784 shares of the computer hardware maker's stock worth $410,000 after buying an additional 1,626 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 sale, the director directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,687,440 shares of company stock valued at $862,095,782. 4.17% of the stock is owned by company insiders.

Analyst Ratings Changes

NVDA has been the subject of several recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Piper Sandler reissued an "overweight" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Jefferies Financial Group raised their price target on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Citigroup raised their price target on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Wedbush reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $182.67 on Friday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $183.88. The stock has a market capitalization of $4.46 trillion, a P/E ratio of 58.93, a PEG ratio of 1.59 and a beta of 2.14. 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 business's fifty day moving average price is $159.82 and its 200 day moving average price is $133.80.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period last year, the business earned $0.61 earnings per share. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio (DPR) 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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