LMG Wealth Partners LLC Buys 1,315 Shares of NVIDIA Corporation (NASDAQ:NVDA)

LMG Wealth Partners LLC lifted its stake in NVIDIA Corporation (NASDAQ:NVDA) by 23.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,021 shares of the computer hardware maker’s stock after acquiring an additional 1,315 shares during the quarter. LMG Wealth Partners LLC’s holdings in NVIDIA were worth $761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Summit X LLC grew its position in NVIDIA by 96.1% during the first quarter. Summit X LLC now owns 268,428 shares of the computer hardware maker’s stock valued at $29,092,000 after buying an additional 131,577 shares during the period. Mechanics Financial Corp grew its position in NVIDIA by 16.6% during the first quarter. Mechanics Financial Corp now owns 29,567 shares of the computer hardware maker’s stock valued at $3,204,000 after buying an additional 4,200 shares during the period. Seaside Wealth Management Inc. grew its position in NVIDIA by 33.1% during the first quarter. Seaside Wealth Management Inc. now owns 2,185 shares of the computer hardware maker’s stock valued at $237,000 after buying an additional 543 shares during the period. Altman Advisors Inc. grew its position in NVIDIA by 3.0% during the first quarter. Altman Advisors Inc. now owns 52,927 shares of the computer hardware maker’s stock valued at $5,765,000 after buying an additional 1,546 shares during the period. Finally, SeaBridge Investment Advisors LLC grew its position in NVIDIA by 3.4% during the first quarter. SeaBridge Investment Advisors LLC now owns 25,777 shares of the computer hardware maker’s stock valued at $2,794,000 after buying an additional 850 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,687,440 shares of company stock valued at $862,095,782. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $183.16 on Wednesday. The firm has a market capitalization of $4.47 trillion, a P/E ratio of 59.08, a PEG ratio of 1.60 and a beta of 2.14. 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 50 day moving average price of $161.55 and a 200 day moving average price of $134.24. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48.

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 company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period 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 year.

NVIDIA Dividend Announcement

The business 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. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Analyst Ratings Changes

Several equities analysts have weighed in on NVDA shares. Barclays lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Bank of America lifted their price target on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Jefferies Financial Group lifted their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Rosenblatt Securities lifted their price target on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Finally, Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $183.75.

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.