Littlejohn Financial Services Inc. Has $3.42 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

Littlejohn Financial Services Inc. increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 288.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,585 shares of the computer hardware maker’s stock after buying an additional 23,446 shares during the quarter. NVIDIA accounts for about 2.7% of Littlejohn Financial Services Inc.’s portfolio, making the stock its 9th biggest holding. Littlejohn Financial Services Inc.’s holdings in NVIDIA were worth $3,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Hickory Point Bank & Trust bought a new position in NVIDIA in 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 valued at $35,785,000 after purchasing an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP grew its stake in NVIDIA by 59.3% in the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after purchasing an additional 9,944 shares in the last quarter. Waddell & Associates LLC grew its stake in NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after purchasing an additional 297 shares in the last quarter. Finally, Strategy Asset Managers LLC grew its stake in NVIDIA by 0.8% in the fourth 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 in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $145.48 on Thursday. The stock has a fifty day moving average price of $124.96 and a 200-day moving average price of $126.62. The company has a market cap of $3.55 trillion, a price-to-earnings ratio of 46.93, a PEG ratio of 1.27 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its 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). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 190,000 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.51, for a total value of $27,076,900.00. Following the sale, the director now owns 8,855,848 shares of the company’s stock, valued at approximately $1,262,046,898.48. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,540,845 shares of company stock worth $357,983,449. 4.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on NVDA shares. Bank of America raised their price target on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. 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. Oppenheimer restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $170.00 target price (up from $160.00) 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 assigned a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.05.

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.