James J. Burns & Company LLC Purchases 1,496 Shares of NVIDIA Co. (NASDAQ:NVDA)

James J. Burns & Company LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 10.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 15,884 shares of the computer hardware maker’s stock after acquiring an additional 1,496 shares during the period. James J. Burns & Company LLC’s holdings in NVIDIA were worth $1,722,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Tacita Capital Inc bought a new position in NVIDIA during the 4th quarter worth $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the 4th quarter worth $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the 4th quarter worth $40,000. Copia Wealth Management bought a new position in NVIDIA during the 4th quarter worth $50,000. Finally, LSV Asset Management bought a new position in NVIDIA during the 4th quarter worth $54,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $143.96 on Wednesday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The stock has a market cap of $3.51 trillion, a price-to-earnings ratio of 56.65, a PEG ratio of 1.76 and a beta of 2.12. 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 firm’s 50-day simple moving average is $119.94 and its 200 day simple moving average is $126.23.

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

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on NVDA. Arete Research raised NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Stifel Nicolaus set a $180.00 price target on NVIDIA in a report on Wednesday, March 19th. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Finally, Mizuho increased their price target on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. One equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $171.66.

Insiders Place Their Bets

In related news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. The trade was a 17.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,614,169 shares of company stock valued at $366,510,238 in the last 90 days. 4.17% of the stock is currently owned by corporate 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.