Edge Financial Advisors LLC Raises Position in NVIDIA Corporation (NASDAQ:NVDA)

Edge Financial Advisors LLC increased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,710 shares of the computer hardware maker’s stock after purchasing an additional 162 shares during the quarter. Edge Financial Advisors LLC’s holdings in NVIDIA were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in NVDA. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth $43,515,504,000. GAMMA Investing LLC raised its position in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the period. Northern Trust Corp raised its position in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Proficio Capital Partners LLC raised its stake in shares of 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 valued at $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of 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 valued at $3,864,026,000 after acquiring an additional 23,948,733 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NVDA shares. Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Rosenblatt Securities upped their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Monday, June 16th. Finally, Citigroup reissued a “buy” rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $176.19.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of the firm’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. Insiders own 4.17% of the company’s stock.

NVIDIA Stock Up 1.3%

Shares of NVDA stock opened at $159.28 on Friday. The company has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 51.38, a PEG ratio of 1.39 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $160.98. The company’s fifty day moving average price is $135.41 and its 200-day moving average price is $127.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm 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 firm’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. Sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. 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.