Fortress Financial Group LLC Purchases 1,328 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Fortress Financial Group LLC lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 30.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,649 shares of the computer hardware maker’s stock after buying an additional 1,328 shares during the quarter. Fortress Financial Group LLC’s holdings in NVIDIA were worth $612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. Elk River Wealth Management LLC boosted its position in NVIDIA by 2.7% during the first quarter. Elk River Wealth Management LLC now owns 51,717 shares of the computer hardware maker’s stock valued at $5,606,000 after purchasing an additional 1,382 shares in the last quarter. Cranbrook Wealth Management LLC boosted its position in NVIDIA by 8.4% during the first quarter. Cranbrook Wealth Management LLC now owns 6,452 shares of the computer hardware maker’s stock valued at $699,000 after purchasing an additional 500 shares in the last quarter. Verum Partners LLC boosted its position in NVIDIA by 5.1% during the first quarter. Verum Partners LLC now owns 13,972 shares of the computer hardware maker’s stock valued at $1,514,000 after purchasing an additional 676 shares in the last quarter. Udine Wealth Management Inc. boosted its position in NVIDIA by 129.0% during the first quarter. Udine Wealth Management Inc. now owns 34,289 shares of the computer hardware maker’s stock valued at $3,716,000 after purchasing an additional 19,318 shares in the last quarter. Finally, Pines Wealth Management LLC boosted its position in NVIDIA by 2.9% during the first quarter. Pines Wealth Management LLC now owns 59,568 shares of the computer hardware maker’s stock valued at $6,456,000 after purchasing an additional 1,702 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 0.9%

Shares of NVDA opened at $145.48 on Thursday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $153.13. The stock’s 50 day moving average is $124.96 and its two-hundred day moving average is $126.62. The firm has a market cap of $3.55 trillion, a P/E ratio of 46.93, a PEG ratio of 1.27 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 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. Analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 of this dividend is Wednesday, June 11th. NVIDIA’s payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Raymond James Financial increased their price target on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $173.05.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,540,845 shares of company stock valued at $357,983,449. Company 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.