Wells Trecaso Financial Group LLC Buys 116 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Wells Trecaso Financial Group LLC lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,737 shares of the computer hardware maker’s stock after acquiring an additional 116 shares during the period. Wells Trecaso Financial Group LLC’s holdings in NVIDIA were worth $1,164,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tacita Capital Inc bought a new stake in NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC bought a new stake in NVIDIA in the 4th quarter worth approximately $38,000. Copia Wealth Management purchased a new stake in NVIDIA in the fourth quarter worth approximately $50,000. Bruce G. Allen Investments LLC grew its position in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares during the last quarter. Finally, LSV Asset Management purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $54,000. 65.27% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the sale, the chief executive officer owned 75,323,225 shares of the company’s stock, valued at $11,865,667,634.25. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director A Brooke Seawell sold 51,740 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was 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 approximately $243,790,745.58. This trade represents a 3.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,044,919 shares of company stock worth $584,414,209. Corporate insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Monday, June 16th. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Thursday, April 3rd. KeyCorp set a $190.00 price objective on NVIDIA in a report on Wednesday, March 19th. Barclays increased their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $176.19.

NVIDIA Stock Performance

Shares of NVDA opened at $159.28 on Friday. The company has a 50-day simple moving average of $136.38 and a two-hundred day simple moving average of $127.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $3.89 trillion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $160.98.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, analysts anticipate 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. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

NVIDIA 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.