Yukon Wealth Management Inc. Takes Position in NVIDIA Corporation (NASDAQ:NVDA)

Yukon Wealth Management Inc. bought a new stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 145,980 shares of the computer hardware maker's stock, valued at approximately $15,821,000. NVIDIA makes up 6.6% of Yukon Wealth Management Inc.'s portfolio, making the stock its 4th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Norges Bank purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC lifted its position in shares of 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 valued at $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp lifted its position in NVIDIA by 15.8% during 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 lifted its position in NVIDIA by 14,641.2% during 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. lifted its position in NVIDIA by 204.6% during 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. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

NVDA opened at $173.50 on Friday. The business's 50 day moving average is $150.95 and its 200-day moving average is $130.93. The stock has a market cap of $4.23 trillion, a PE ratio of 55.97, a price-to-earnings-growth ratio of 1.53 and a beta of 2.13. 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 twelve month low of $86.62 and a twelve month high of $174.72.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm posted $0.61 EPS. On average, analysts predict 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. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction 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 in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,114,800 shares of company stock worth $760,553,003 over the last ninety days. Insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley reiterated an "overweight" rating and set a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Citigroup lifted their price objective on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $181.22.

NVIDIA Company 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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