Legacy Financial Strategies LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Legacy Financial Strategies LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 11.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,328 shares of the computer hardware maker’s stock after purchasing an additional 4,714 shares during the quarter. NVIDIA comprises 1.1% of Legacy Financial Strategies LLC’s portfolio, making the stock its 13th biggest holding. Legacy Financial Strategies LLC’s holdings in NVIDIA were worth $5,129,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tacita Capital Inc bought a new position in NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $40,000. Copia Wealth Management purchased a new position in NVIDIA in the 4th quarter worth about $50,000. Finally, LSV Asset Management purchased a new position in NVIDIA in the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several research reports. Bank of America boosted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Hsbc Global Res downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, William Blair reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $171.66.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $142.63 on Tuesday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market cap of $3.48 trillion, a PE ratio of 56.13, a P/E/G ratio of 1.76 and a beta of 2.12. The business has a 50-day simple moving average of $119.10 and a two-hundred day simple moving average of $126.11.

NVIDIA (NASDAQ:NVDA) last released 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). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. As a group, equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insider Activity at NVIDIA

In related news, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 now owns 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. Insiders have sold a total of 1,255,320 shares of company stock valued at $172,680,419 in the last ninety days. Company insiders own 4.17% of the company’s stock.

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.