Edge Wealth Management LLC Buys 2,282 Shares of NVIDIA Co. (NASDAQ:NVDA)

Edge Wealth Management LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 29.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,138 shares of the computer hardware maker’s stock after acquiring an additional 2,282 shares during the quarter. Edge Wealth Management LLC’s holdings in NVIDIA were worth $1,099,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Hickory Point Bank & Trust bought a new position in shares of NVIDIA during the fourth quarter valued at approximately $2,272,000. BTC Capital Management Inc. grew its stake in NVIDIA by 2.3% in the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock worth $35,785,000 after purchasing an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP lifted its holdings in NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after buying an additional 9,944 shares during the period. Waddell & Associates LLC lifted its holdings in NVIDIA by 1.2% during the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after buying an additional 297 shares during the period. Finally, Strategy Asset Managers LLC lifted its holdings in shares of NVIDIA by 0.8% during the 4th 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.

NVIDIA Stock Up 1.9%

NVDA stock opened at $144.69 on Tuesday. The firm has a market cap of $3.53 trillion, a PE ratio of 56.94, 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. The firm’s 50 day moving average price is $123.74 and its 200-day moving average price is $126.36. NVIDIA Co. has a one year low of $86.62 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the previous year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date 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 1.29%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NVDA shares. William Blair restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Wedbush restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Susquehanna restated a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Bank of America raised their target price on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday, March 19th. One equities research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $172.24.

Insiders Place Their Bets

In other news, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. This represents a 27.32% decrease in their ownership of the stock. The sale 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 stock in a transaction dated 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 $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. 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. Corporate insiders own 4.17% of the company’s stock.

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.