NVIDIA Corporation (NASDAQ:NVDA) Position Lifted by Burkett Financial Services LLC

Burkett Financial Services LLC grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,380 shares of the computer hardware maker’s stock after purchasing an additional 130 shares during the period. Burkett Financial Services LLC’s holdings in NVIDIA were worth $583,000 as of its most recent SEC filing.

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

NVIDIA Stock Performance

Shares of NVDA opened at $145.48 on Thursday. The firm’s 50 day moving average is $124.96 and its 200-day moving average is $126.62. The stock has a market capitalization of $3.55 trillion, a P/E ratio of 46.93, a P/E/G ratio of 1.27 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced 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 dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVDA. Rosenblatt Securities increased their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Mizuho increased their price objective on shares of NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. Finally, DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $173.05.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,540,845 shares of company stock worth $357,983,449 over the last ninety days. 4.17% of the stock is currently owned by company insiders.

NVIDIA 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.