Tower Wealth Partners Inc. Grows Position in NVIDIA Corporation (NASDAQ:NVDA)

Tower Wealth Partners Inc. grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 28.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,127 shares of the computer hardware maker’s stock after buying an additional 466 shares during the period. Tower Wealth Partners Inc.’s holdings in NVIDIA were worth $231,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. grew its position in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the period. Baker Boyer National Bank grew its position in shares of NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after acquiring an additional 76 shares during the period. SC&H Financial Advisors Inc. grew its position in shares of NVIDIA by 1.6% in the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock valued at $681,000 after acquiring an additional 80 shares during the period. DecisionPoint Financial LLC grew its position in shares of NVIDIA by 2.9% in the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock valued at $386,000 after acquiring an additional 80 shares during the period. Finally, BCR Wealth Strategies LLC grew its position in shares of NVIDIA by 3.1% in the 4th quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker’s stock valued at $391,000 after acquiring an additional 89 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on NVDA shares. Hsbc Global Res downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Citigroup reissued a “buy” rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. Bank of America lifted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. UBS Group reissued a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.05.

Insider Activity

In related news, CFO Colette Kress sold 66,660 shares of the company’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 transaction 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 represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’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 transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,540,845 shares of company stock worth $357,983,449. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $145.48 on Thursday. The firm has a 50 day moving average of $124.96 and a 200-day moving average of $126.62. The stock has a market capitalization of $3.55 trillion, a PE ratio of 46.93, a PEG ratio of 1.27 and a beta of 2.12. 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.

NVIDIA (NASDAQ:NVDA) last issued its 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). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company 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 $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s payout ratio is presently 1.29%.

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.