Foster Victor Wealth Advisors LLC Has $3.78 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Foster Victor Wealth Advisors LLC raised its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 13.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 34,056 shares of the computer hardware maker’s stock after purchasing an additional 3,916 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in NVIDIA were worth $3,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Wealth Group Ltd. lifted its position in shares of NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after buying an additional 100 shares during the period. Tallon Kerry Patrick acquired a new position in NVIDIA during the fourth quarter worth $972,000. Capital & Planning LLC raised its stake in NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after acquiring an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of NVIDIA by 1.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock valued at $871,000 after acquiring an additional 104 shares during the period. Finally, Brighton Jones LLC boosted its stake in shares of NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after purchasing an additional 35,815 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NVDA shares. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, June 16th. TD Cowen increased their price target on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Barclays raised their price target on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Finally, Citigroup reissued a “buy” rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.78.

Insider Activity

In related news, Director A Brooke Seawell sold 55,681 shares of NVIDIA stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $143.67, for a total transaction of $7,999,689.27. Following the transaction, the director owned 1,889,037 shares of the company’s stock, valued at $271,397,945.79. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,792,267 shares of company stock valued at $544,823,117. Insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA stock opened at $157.99 on Tuesday. The firm’s 50 day moving average price is $132.18 and its two-hundred day moving average price is $127.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $158.71. The stock has a market cap of $3.85 trillion, a PE ratio of 50.96, a PEG ratio of 1.40 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last posted 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the company earned $0.61 EPS. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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.