Kingsman Wealth Management Inc. Invests $17.43 Million in NVIDIA Corporation $NVDA

Kingsman Wealth Management Inc. bought a new position in NVIDIA Corporation (NASDAQ:NVDA) during the first quarter, Holdings Channel reports. The firm bought 160,806 shares of the computer hardware maker’s stock, valued at approximately $17,428,000. NVIDIA makes up about 12.7% of Kingsman Wealth Management Inc.’s portfolio, making the stock its biggest holding.

Other hedge funds have also recently modified their holdings of the company. Copia Wealth Management purchased a new stake in shares of NVIDIA in the fourth quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the first quarter worth about $51,000. Bruce G. Allen Investments LLC boosted its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after buying an additional 327 shares during the last quarter. LSV Asset Management purchased a new stake in shares of NVIDIA in the fourth quarter worth about $54,000. Finally, Delos Wealth Advisors LLC boosted its stake in shares of NVIDIA by 134.8% in the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock worth $66,000 after buying an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent research reports. Rosenblatt Securities upped their target price on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Mizuho increased their price target on NVIDIA from $192.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Piper Sandler set a $225.00 price target on NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Truist Financial increased their price target on NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Finally, Wells Fargo & Company increased their price target on NVIDIA from $185.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. One analyst has rated the stock with a sell rating, five have assigned 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.61.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA 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 completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The shares were 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 of the company’s stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,912,440 shares of company stock valued at $902,886,782. 4.17% of the stock is currently owned by company insiders.

NVIDIA Trading Up 0.9%

Shares of NASDAQ NVDA opened at $182.01 on Tuesday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48. 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 stock has a fifty day simple moving average of $164.75 and a 200-day simple moving average of $135.95. The stock has a market capitalization of $4.44 trillion, a PE ratio of 58.71, a PEG ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 analyst estimates of $43.09 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

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.