NVIDIA Corporation (NASDAQ:NVDA) Stake Boosted by Hudock Inc.

Hudock Inc. increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 14.5% during the first quarter, HoldingsChannel reports. The firm owned 26,869 shares of the computer hardware maker’s stock after acquiring an additional 3,393 shares during the period. Hudock Inc.’s holdings in NVIDIA were worth $2,912,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Condor Capital Management increased its stake in NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock worth $344,000 after purchasing an additional 89 shares in the last quarter. High Note Wealth LLC increased its stake in NVIDIA by 0.5% in the 1st quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker’s stock worth $1,937,000 after purchasing an additional 91 shares in the last quarter. Kelly Financial Services LLC boosted its position in NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock worth $513,000 after acquiring an additional 94 shares during the period. Mendel Capital Management LLC grew its stake in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock valued at $1,287,000 after acquiring an additional 96 shares in the last quarter. Finally, Wallace Hart LLC grew its stake in NVIDIA by 3.9% during the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock valued at $349,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $181.62 on Thursday. The business has a fifty day simple moving average of $162.34 and a 200 day simple moving average of $134.56. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 58.59, a PEG ratio of 1.61 and a beta of 2.14. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48.

NVIDIA (NASDAQ:NVDA) last issued 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). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $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. Shareholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction 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 directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was 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 of the company’s stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVDA shares. Rosenblatt Securities lifted their target price on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Raymond James Financial lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. TD Cowen lifted their target price on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Morgan Stanley lifted their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Needham & Company LLC lifted their target price on NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. One investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $185.97.

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.