NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by BTS Asset Management Inc.

BTS Asset Management Inc. boosted its position in NVIDIA Corporation (NASDAQ:NVDA) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,068 shares of the computer hardware maker’s stock after acquiring an additional 180 shares during the quarter. NVIDIA accounts for 0.3% of BTS Asset Management Inc.’s investment portfolio, making the stock its 28th biggest position. BTS Asset Management Inc.’s holdings in NVIDIA were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Tacita Capital Inc acquired a new position in NVIDIA in the fourth quarter valued at $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management acquired a new position in shares of NVIDIA during the fourth quarter worth about $50,000. Bruce G. Allen Investments LLC lifted its stake in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after purchasing an additional 327 shares in the last quarter. Finally, LSV Asset Management acquired a new position in shares of NVIDIA in the fourth quarter worth about $54,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 0.5%

NASDAQ NVDA opened at $155.02 on Friday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $156.72. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.78 trillion, a PE ratio of 50.01, a price-to-earnings-growth ratio of 1.36 and a beta of 2.12. The firm’s fifty day simple moving average is $129.83 and its 200-day simple moving average is $126.89.

NVIDIA (NASDAQ:NVDA) last released 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 quarter last year, the company earned $0.61 earnings per share. The firm’s revenue was up 69.2% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer now owns 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 20,000 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $144.21, for a total transaction of $2,884,200.00. Following the completion of the sale, the chief financial officer now owns 173,060 shares of the company’s stock, valued at approximately $24,956,982.60. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,468,863 shares of company stock worth $495,150,332. Company insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NVDA. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Bank of America upped their target price on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Arete Research raised NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Benchmark reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.78.

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.