Hillsdale Investment Management Inc. Purchases 27,520 Shares of NVIDIA Corporation $NVDA

Hillsdale Investment Management Inc. raised its position in NVIDIA Corporation (NASDAQ:NVDAFree Report) by 11.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 272,626 shares of the computer hardware maker’s stock after purchasing an additional 27,520 shares during the period. NVIDIA makes up 1.3% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 14th biggest holding. Hillsdale Investment Management Inc.’s holdings in NVIDIA were worth $47,546,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Lifetime Wealth Management P.C. bought a new stake in NVIDIA in the 4th quarter valued at approximately $26,000. Longview Financial Advisors Inc. bought a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. Longfellow Investment Management Co. LLC grew its stake in shares of NVIDIA by 47.9% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 67 shares in the last quarter. Spurstone Advisory Services LLC acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $40,000. Finally, Inspire Investing LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $44,000. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 885,000 shares of NVIDIA stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $210.17, for a total transaction of $186,000,450.00. Following the completion of the transaction, the director directly owned 5,207,271 shares of the company’s stock, valued at $1,094,412,146.07. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen C. Neal sold 15,500 shares of NVIDIA stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the transaction, the director directly owned 116,135 shares of the company’s stock, valued at approximately $25,053,803.55. This trade represents a 11.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,901,125 shares of company stock valued at $410,583,015. 3.94% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Mizuho set a $300.00 target price on shares of NVIDIA in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $255.00 price target (up from $220.00) on shares of NVIDIA in a research note on Thursday, May 21st. Wells Fargo & Company reissued an “overweight” rating and set a $315.00 price target (up from $265.00) on shares of NVIDIA in a research report on Tuesday, May 12th. Citigroup began coverage on shares of NVIDIA in a research note on Wednesday, April 15th. They set a “buy” rating for the company. Finally, Bank of America restated a “buy” rating and issued a $350.00 price objective (up from $320.00) on shares of NVIDIA in a report on Thursday, May 21st. Three research analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Buy” and a consensus price target of $304.26.

Get Our Latest Stock Report on NVDA

Trending Headlines about NVIDIA

Here are the key news stories impacting NVIDIA this week:

NVIDIA Stock Down 0.9%

NVIDIA stock opened at $206.84 on Friday. The firm has a market capitalization of $5.01 trillion, a PE ratio of 31.68, a P/E/G ratio of 0.40 and a beta of 2.21. The company’s 50-day moving average is $207.85 and its 200-day moving average is $195.81. NVIDIA Corporation has a fifty-two week low of $164.07 and a fifty-two week high of $236.54. 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 (NASDAQ:NVDAGet Free Report) last issued its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The company had revenue of $81.61 billion for the quarter, compared to analysts’ expectations of $78.42 billion. During the same period in the prior year, the firm earned $0.81 EPS. NVIDIA’s quarterly revenue was up 85.2% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Corporation will post 8.79 earnings per share for the current year.

NVIDIA declared that its Board of Directors has approved a share buyback plan on Wednesday, May 20th that authorizes the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s dividend payout ratio is presently 15.31%.

NVIDIA Company 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.

Read More

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDAFree Report).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.