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Wealthspire Advisors LLC Raises Stock Position in NVIDIA Corporation $NVDA

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Wealthspire Advisors LLC increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 70.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 395,415 shares of the computer hardware maker's stock after acquiring an additional 163,897 shares during the period. Wealthspire Advisors LLC's holdings in NVIDIA were worth $73,745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. Tillman Hartley LLC grew its stake in NVIDIA by 175.4% in the 4th quarter. Tillman Hartley LLC now owns 7,278 shares of the computer hardware maker's stock worth $1,357,000 after buying an additional 4,635 shares in the last quarter. Aspex Management HK Ltd purchased a new stake in shares of NVIDIA during the 4th quarter valued at $535,977,000. Investment Counsel Co. of Nevada lifted its holdings in shares of NVIDIA by 4.9% during the 4th quarter. Investment Counsel Co. of Nevada now owns 2,130 shares of the computer hardware maker's stock worth $397,000 after acquiring an additional 100 shares during the last quarter. M1 Capital Management LLC lifted its holdings in shares of NVIDIA by 6.0% during the 4th quarter. M1 Capital Management LLC now owns 14,562 shares of the computer hardware maker's stock worth $2,716,000 after acquiring an additional 830 shares during the last quarter. Finally, United Capital Management of KS Inc. grew its position in NVIDIA by 2.3% in the fourth quarter. United Capital Management of KS Inc. now owns 80,169 shares of the computer hardware maker's stock worth $14,951,000 after acquiring an additional 1,833 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 0.2%

Shares of NVDA stock opened at $205.19 on Friday. The business has a 50-day moving average of $206.84 and a 200 day moving average of $191.34. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 2.85. NVIDIA Corporation has a 1-year low of $140.85 and a 1-year high of $236.54. The stock has a market capitalization of $4.97 trillion, a PE ratio of 31.42, a P/E/G ratio of 0.46 and a beta of 2.22.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.11. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The firm had revenue of $81.62 billion during the quarter, compared to the consensus estimate of $78.42 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business's revenue was up 85.2% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 8.65 earnings per share for the current year.

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, May 20th that allows the company to buyback $80.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

NVIDIA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 4th will be issued a $0.25 dividend. This is a boost from NVIDIA's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. NVIDIA's payout ratio is 15.31%.

Insider Transactions at NVIDIA

In related news, Director Stephen C. Neal sold 15,500 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $215.73, for a total value of $3,343,815.00. Following the sale, the director directly owned 116,135 shares of the company's stock, valued at $25,053,803.55. This trade represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 42,650 shares of the business's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $174.89, for a total value of $7,459,058.50. Following the transaction, the chief financial officer owned 881,387 shares in the company, valued at approximately $154,145,772.43. This represents a 4.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,619,457 shares of company stock valued at $332,073,643. Company insiders own 3.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NVDA shares. President Capital increased their target price on NVIDIA from $280.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Melius Research set a $400.00 price objective on NVIDIA in a report on Thursday, May 21st. CICC Research increased their price objective on NVIDIA from $240.60 to $268.30 and gave the company an "outperform" rating in a research report on Friday, May 22nd. Wall Street Zen raised NVIDIA from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 23rd. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $315.00 target price (up from $265.00) on shares of NVIDIA in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $305.67.

View Our Latest Stock Report on NVIDIA

Key NVIDIA News

Here are the key news stories impacting NVIDIA this week:

NVIDIA Profile

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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