Sterneck Capital Management LLC Purchases 200 Shares of NVIDIA Co. (NASDAQ:NVDA)

Sterneck Capital Management LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,705 shares of the computer hardware maker’s stock after acquiring an additional 200 shares during the quarter. Sterneck Capital Management LLC’s holdings in NVIDIA were worth $402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NVDA. FMR LLC boosted its stake in NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC boosted its stake in NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank bought a new position in NVIDIA in the 4th quarter worth about $43,515,504,000. Finally, Northern Trust Corp boosted its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $143.96 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business’s 50 day simple moving average is $119.94 and its two-hundred day simple moving average is $126.23. The stock has a market capitalization of $3.51 trillion, a P/E ratio of 56.65, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a one year low of $86.62 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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). The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Activity

In other news, Director Aarti S. Shah sold 20,000 shares of the business’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 transaction of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,614,169 shares of company stock valued at $366,510,238. Company insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley restated an “overweight” rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA 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. Hsbc Global Res downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, DA Davidson raised their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.66.

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.