NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by Sharp Financial Services LLC

Sharp Financial Services LLC increased its position in NVIDIA Corporation (NASDAQ:NVDA) by 3.8% during the first quarter, HoldingsChannel.com reports. The fund owned 14,142 shares of the computer hardware maker’s stock after acquiring an additional 517 shares during the quarter. NVIDIA accounts for approximately 1.2% of Sharp Financial Services LLC’s holdings, making the stock its 9th largest holding. Sharp Financial Services LLC’s holdings in NVIDIA were worth $1,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Novare Capital Management LLC raised its stake in NVIDIA by 9.1% in the 1st quarter. Novare Capital Management LLC now owns 184,392 shares of the computer hardware maker’s stock valued at $19,984,000 after purchasing an additional 15,335 shares during the last quarter. Quattro Financial Advisors LLC acquired a new position in NVIDIA during the first quarter worth approximately $1,925,000. Simmons Bank boosted its holdings in NVIDIA by 0.3% in the first quarter. Simmons Bank now owns 335,729 shares of the computer hardware maker’s stock valued at $36,386,000 after acquiring an additional 908 shares during the last quarter. HM Payson & Co. raised its holdings in NVIDIA by 0.9% in the first quarter. HM Payson & Co. now owns 1,569,658 shares of the computer hardware maker’s stock valued at $170,120,000 after buying an additional 14,092 shares during the period. Finally, Macroview Investment Management LLC lifted its holdings in shares of NVIDIA by 6.8% during the 1st quarter. Macroview Investment Management LLC now owns 3,667 shares of the computer hardware maker’s stock valued at $397,000 after acquiring an additional 233 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Up 2.1%

NASDAQ NVDA opened at $179.27 on Thursday. The business’s fifty day moving average is $153.55 and its 200 day moving average is $131.72. The company has a market cap of $4.37 trillion, a price-to-earnings ratio of 57.83, a price-to-earnings-growth ratio of 1.55 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $179.89. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last issued its 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 during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 27,650 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the transaction, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the transaction, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,264,800 shares of company stock worth $786,735,503 in the last quarter. Insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVDA. Barclays raised their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Mizuho set a $192.00 target price on NVIDIA and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Finally, DA Davidson increased their price target on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $182.03.

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.