Fragasso Financial Advisors Inc Purchases 13,440 Shares of NVIDIA Co. (NASDAQ:NVDA)

Fragasso Financial Advisors Inc grew its position in NVIDIA Co. (NASDAQ:NVDA) by 12.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 120,991 shares of the computer hardware maker’s stock after buying an additional 13,440 shares during the period. NVIDIA makes up 1.0% of Fragasso Financial Advisors Inc’s portfolio, making the stock its 16th largest position. Fragasso Financial Advisors Inc’s holdings in NVIDIA were worth $13,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. lifted its holdings in NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after purchasing an additional 71 shares during the last quarter. Baker Boyer National Bank lifted its holdings in NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 shares during the last quarter. SC&H Financial Advisors Inc. lifted its holdings in NVIDIA by 1.6% during the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock worth $681,000 after purchasing an additional 80 shares during the last quarter. DecisionPoint Financial LLC lifted its holdings in NVIDIA by 2.9% during the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock worth $386,000 after purchasing an additional 80 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC lifted its holdings in NVIDIA by 0.7% during the 4th quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker’s stock worth $1,544,000 after purchasing an additional 84 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Up 1.5%

Shares of NASDAQ:NVDA opened at $145.00 on Friday. The company has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 57.06, a P/E/G ratio of 1.76 and a beta of 2.12. 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 moving average is $121.86 and its 200-day moving average is $126.41. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced 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 during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. Equities research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a $0.01 dividend. 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 is 1.29%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVDA. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. Arete Research raised NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. TD Cowen lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $172.24.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s 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 transaction, the director now directly owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,560,845 shares of company stock valued at $360,351,849 in the last ninety days. 4.17% of the stock is owned by company 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.