UNICOM Systems Inc. Buys 114,200 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• UNICOM Systems Inc. has increased its stake in NVIDIA Corporation by 17.8%, now holding 757,098 shares worth approximately $82.05 million, which represents 16.7% of UNICOM's portfolio.
• NVIDIA's latest quarterly report showed a 69.2% year-over-year increase in revenue to $44.06 billion, although it reported an EPS of $0.81, missing estimates by $0.06.
• Recent analyst reports have resulted in target price increases for NVIDIA stock, with valuations ranging from $135.00 to $250.00, showcasing significant confidence among analysts regarding the company’s performance.

UNICOM Systems Inc. boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 17.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 757,098 shares of the computer hardware maker's stock after purchasing an additional 114,200 shares during the quarter. NVIDIA makes up 16.7% of UNICOM Systems Inc.'s portfolio, making the stock its 2nd biggest holding. UNICOM Systems Inc.'s holdings in NVIDIA were worth $82,054,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Copia Wealth Management purchased a new stake in shares of NVIDIA in the fourth quarter valued at $50,000. LSV Asset Management purchased a new stake in shares of NVIDIA in the fourth quarter valued at $54,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the first quarter valued at $51,000. Bruce G. Allen Investments LLC lifted its position in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after acquiring an additional 327 shares in the last quarter. Finally, Delos Wealth Advisors LLC lifted its position in shares of NVIDIA by 134.8% in the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock valued at $66,000 after acquiring an additional 283 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NVDA shares. Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. DA Davidson boosted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Barclays increased their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Finally, Loop Capital raised their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.75.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 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. Insiders sold a total of 5,687,440 shares of company stock worth $862,095,782 over the last quarter. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Down 0.4%

NASDAQ NVDA traded down $0.64 on Monday, reaching $182.06. The stock had a trading volume of 138,011,711 shares, compared to its average volume of 244,601,375. The business has a 50 day moving average price of $159.82 and a 200 day moving average price of $133.62. 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 Corporation has a 1 year low of $86.62 and a 1 year high of $183.88. The company has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.73, a P/E/G ratio of 1.61 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results 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 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 analyst estimates of $43.09 billion. During the same period in the prior year, the firm earned $0.61 EPS. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. On average, analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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 dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is currently 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.