NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by Cushing Capital Partners LLC

Cushing Capital Partners LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 16.8% during the first quarter, HoldingsChannel.com reports. The fund owned 3,724 shares of the computer hardware maker’s stock after acquiring an additional 537 shares during the period. Cushing Capital Partners LLC’s holdings in NVIDIA were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the 4th quarter worth $38,000. Copia Wealth Management acquired a new stake in NVIDIA in the fourth quarter worth about $50,000. LSV Asset Management bought a new position in NVIDIA in the 4th quarter valued at about $54,000. Finally, Bruce G. Allen Investments LLC increased its stake in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after buying an additional 327 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVDA. Loop Capital upped their target price on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Barclays boosted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. William Blair restated an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Citigroup reaffirmed 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.19.

NVIDIA Stock Up 1.3%

Shares of NASDAQ NVDA opened at $159.28 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.89 trillion, a price-to-earnings ratio of 51.38, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $160.98. The firm’s 50-day simple moving average is $136.38 and its 200 day simple moving average is $127.84.

NVIDIA (NASDAQ:NVDA) last issued 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 in the prior year, the business earned $0.61 EPS. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.29%.

Insiders Place Their Bets

In other news, Director A Brooke Seawell sold 51,740 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the sale, the director owned 1,576,709 shares in the company, valued at $243,790,745.58. The trade was a 3.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the sale, the chief executive officer directly owned 75,323,225 shares of the company’s stock, valued at approximately $11,865,667,634.25. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is currently owned by insiders.

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.