Beech Hill Advisors Inc. Has $3.42 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

Beech Hill Advisors Inc. lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 184.0% during the 1st quarter, HoldingsChannel reports. The fund owned 31,567 shares of the computer hardware maker’s stock after purchasing an additional 20,450 shares during the period. NVIDIA comprises approximately 1.4% of Beech Hill Advisors Inc.’s portfolio, making the stock its 29th largest holding. Beech Hill Advisors Inc.’s holdings in NVIDIA were worth $3,421,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the 4th quarter worth $38,000. Copia Wealth Management bought a new position in NVIDIA during the 4th quarter worth $50,000. Bruce G. Allen Investments LLC raised its position 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 worth $53,000 after purchasing an additional 327 shares during the last quarter. Finally, LSV Asset Management bought a new position in NVIDIA during the 4th quarter worth $54,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock worth $734,906,003 over the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Phillip Securities raised NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 14th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Rosenblatt Securities raised their target price on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Bank of America raised their target price on NVIDIA from $180.00 to $220.00 in a research report on Wednesday. Finally, Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Stock Performance

Shares of NVDA opened at $172.41 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a 50 day moving average price of $146.99 and a two-hundred day moving average price of $129.90. The firm has a market capitalization of $4.21 trillion, a P/E ratio of 55.62, a P/E/G ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $174.25.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. Equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s payout ratio is presently 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.