Naples Global Advisors LLC Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Naples Global Advisors LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,153 shares of the computer hardware maker’s stock after purchasing an additional 950 shares during the quarter. Naples Global Advisors LLC’s holdings in NVIDIA were worth $5,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter worth $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the 4th quarter worth $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the 4th quarter worth $40,000. Copia Wealth Management bought a new position in shares of NVIDIA in the 4th quarter worth $50,000. Finally, LSV Asset Management bought a new position in shares of NVIDIA in the 4th quarter worth $54,000. 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. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $153.13. The stock has a market cap of $3.46 trillion, a price-to-earnings ratio of 55.87, a P/E/G ratio of 1.76 and a beta of 2.12. The company has a 50-day moving average price of $122.77 and a 200-day moving average price of $126.32. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The shares were 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 in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,560,845 shares of company stock worth $360,351,849. 4.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Rosenblatt Securities increased their target price on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Citigroup reaffirmed a “buy” rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, Arete Research raised shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $172.24.

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.