Carnegie Lake Advisors LLC Buys 1,675 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Carnegie Lake Advisors LLC grew its stake in NVIDIA Corporation (NASDAQ:NVDA) by 33.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,710 shares of the computer hardware maker’s stock after acquiring an additional 1,675 shares during the period. Carnegie Lake Advisors LLC’s holdings in NVIDIA were worth $727,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Astoria Portfolio Advisors LLC. lifted its position in NVIDIA by 0.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker’s stock valued at $9,610,000 after acquiring an additional 864 shares during the last quarter. Centerpoint Advisory Group lifted its position in NVIDIA by 2.5% during the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock valued at $4,270,000 after acquiring an additional 943 shares during the last quarter. GSB Wealth Management LLC lifted its position in NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock valued at $3,534,000 after acquiring an additional 1,043 shares during the last quarter. Variant Private Wealth LLC lifted its position in NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock valued at $2,038,000 after acquiring an additional 3,206 shares during the last quarter. Finally, Financial Perspectives Inc lifted its position in NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock valued at $4,981,000 after acquiring an additional 1,265 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA stock opened at $180.45 on Friday. 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’s 50-day moving average is $163.96 and its two-hundred day moving average is $135.36. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The company has a market capitalization of $4.40 trillion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. NVIDIA’s revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. Analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. Needham & Company LLC upped their price target on shares of NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Loop Capital upped their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Citigroup upped their price target on shares of NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Raymond James Financial upped their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Finally, Truist Financial upped their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.33.

Insider Buying and Selling

In other news, CFO Colette Kress sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $3,561,200.00. Following the sale, the chief financial officer directly owned 153,060 shares of the company’s stock, valued at approximately $27,253,863.60. The trade was a 11.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the completion of the sale, the chief executive officer directly owned 72,998,225 shares in the company, valued at $13,240,418,050.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,837,440 shares of company stock worth $889,404,782 over the last three months. Insiders own 4.17% of the company’s stock.

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.