Channel Wealth LLC Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

Channel Wealth LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,816 shares of the computer hardware maker’s stock after buying an additional 3,622 shares during the period. NVIDIA makes up approximately 2.3% of Channel Wealth LLC’s portfolio, making the stock its 11th biggest position. Channel Wealth LLC’s holdings in NVIDIA were worth $7,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Norges Bank acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC grew its holdings in shares of NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after purchasing an additional 48,439,859 shares in the last quarter. Northern Trust Corp grew its holdings in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $2,987,733,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Down 2.1%

NASDAQ:NVDA opened at $141.97 on Monday. The stock has a fifty day moving average price of $122.77 and a two-hundred day moving average price of $126.32. The stock has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 55.87, 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. 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 results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given 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 currently 1.29%.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent research reports. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating and issued a $170.00 price target (up from $155.00) on shares of NVIDIA in a report on Thursday, May 29th. Hsbc Global Res downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Rosenblatt Securities upped their price target on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $172.24.

Insider Activity

In related news, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction 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 sale, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction 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 sale, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,560,845 shares of company stock worth $360,351,849 over the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

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.