Investors Research Corp Acquires 775 Shares of NVIDIA Co. (NASDAQ:NVDA)

Investors Research Corp lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 46.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,437 shares of the computer hardware maker’s stock after purchasing an additional 775 shares during the period. Investors Research Corp’s holdings in NVIDIA were worth $264,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Fulcrum Capital LLC raised its stake in shares of NVIDIA by 1.5% during the 1st quarter. Fulcrum Capital LLC now owns 174,824 shares of the computer hardware maker’s stock worth $18,947,000 after purchasing an additional 2,538 shares during the period. James J. Burns & Company LLC raised its stake in NVIDIA by 10.4% in the 1st quarter. James J. Burns & Company LLC now owns 15,884 shares of the computer hardware maker’s stock valued at $1,722,000 after acquiring an additional 1,496 shares during the period. LVM Capital Management Ltd. MI raised its stake in NVIDIA by 996.5% in the 1st quarter. LVM Capital Management Ltd. MI now owns 81,413 shares of the computer hardware maker’s stock valued at $8,824,000 after acquiring an additional 73,988 shares during the period. Somerset Trust Co raised its stake in NVIDIA by 32.0% in the 1st quarter. Somerset Trust Co now owns 7,429 shares of the computer hardware maker’s stock valued at $805,000 after acquiring an additional 1,801 shares during the period. Finally, IFG Advisors LLC raised its stake in NVIDIA by 2.7% in the 1st quarter. IFG Advisors LLC now owns 26,841 shares of the computer hardware maker’s stock valued at $2,909,000 after acquiring an additional 695 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Up 0.9%

Shares of NVDA opened at $143.96 on Wednesday. The firm has a market cap of $3.51 trillion, a P/E ratio of 56.65, a P/E/G ratio of 1.76 and a beta of 2.12. The stock has a 50 day simple moving average of $119.94 and a two-hundred day simple moving average of $126.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the prior year, the company earned $0.61 EPS. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Raymond James boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Wedbush restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $171.66.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,614,169 shares of company stock worth $366,510,238. 4.17% of the stock is currently owned by insiders.

About NVIDIA

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.