Variant Private Wealth LLC Increases Stake in NVIDIA Corporation (NASDAQ:NVDA)

Variant Private Wealth LLC boosted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 20.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,800 shares of the computer hardware maker's stock after acquiring an additional 3,206 shares during the quarter. NVIDIA accounts for 2.2% of Variant Private Wealth LLC's investment portfolio, making the stock its 18th biggest position. Variant Private Wealth LLC's holdings in NVIDIA were worth $2,038,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its holdings in NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC boosted its stake in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp increased its holdings in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research reports. William Blair reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. TD Cowen raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Loop Capital lifted their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, Raymond James Financial boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and an average price target of $175.78.

Insider Activity at NVIDIA

In other news, Director A Brooke Seawell sold 51,740 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the sale, the director owned 1,576,709 shares in the company, valued at approximately $243,790,745.58. This represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the 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 completion of the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last ninety days. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $157.25 on Thursday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $158.71. The firm has a market capitalization of $3.84 trillion, a PE ratio of 50.73, a P/E/G ratio of 1.36 and a beta of 2.13. The company's 50 day simple moving average is $134.36 and its 200 day simple moving average is $127.45. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the business posted $0.61 earnings per share. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS 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 $0.01 dividend. 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 payout ratio is 1.29%.

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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