Wallace Advisory Group LLC Purchases 1,690 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wallace Advisory Group LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,534 shares of the computer hardware maker’s stock after acquiring an additional 1,690 shares during the quarter. NVIDIA makes up approximately 0.9% of Wallace Advisory Group LLC’s holdings, making the stock its 24th largest position. Wallace Advisory Group LLC’s holdings in NVIDIA were worth $1,250,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Hickory Point Bank & Trust purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $2,272,000. BTC Capital Management Inc. lifted its holdings in shares of NVIDIA by 2.3% during the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock valued at $35,785,000 after purchasing an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP lifted its holdings in shares of NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Waddell & Associates LLC lifted its holdings in shares of NVIDIA by 1.2% during the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after purchasing an additional 297 shares during the last quarter. Finally, Strategy Asset Managers LLC lifted its holdings in shares of NVIDIA by 0.8% during the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock valued at $7,024,000 after purchasing an additional 405 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This represents a 0.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,560,845 shares of company stock valued at $360,351,849. Company insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NVDA. Bank of America lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. William Blair reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Raymond James lifted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. Finally, Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $172.24.

NVIDIA Trading Down 0.8%

Shares of NVDA stock opened at $142.83 on Thursday. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $153.13. The firm has a fifty day moving average price of $120.91 and a 200-day moving average price of $126.34. 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 company has a market cap of $3.49 trillion, a price-to-earnings ratio of 56.21, a PEG ratio of 1.76 and a beta of 2.12.

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

NVIDIA Dividend Announcement

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