Seneca House Advisors Increases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Seneca House Advisors lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,255 shares of the computer hardware maker’s stock after purchasing an additional 100 shares during the period. Seneca House Advisors’ holdings in NVIDIA were worth $244,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Wealth Group Ltd. raised its holdings in shares of NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after acquiring an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new stake in NVIDIA during the 4th quarter worth about $972,000. Capital & Planning LLC raised its stake in NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after purchasing an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. lifted its holdings in NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock valued at $871,000 after purchasing an additional 104 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after purchasing an additional 35,815 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA opened at $145.48 on Friday. The firm has a market cap of $3.55 trillion, a price-to-earnings ratio of 46.93, a PEG ratio of 1.28 and a beta of 2.12. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $125.72 and its two-hundred day moving average is $126.66. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 company’s revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. Analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 125,836 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $137.79, for a total transaction of $17,338,942.44. Following the completion of the sale, the director now owns 10,149,697 shares in the company, valued at $1,398,526,749.63. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert K. Burgess sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the transaction, the director now owns 201,044 shares in the company, valued at approximately $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,469,685 shares of company stock worth $349,669,962 over the last quarter. 4.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Truist Financial lifted their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Finally, William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. One 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.05.

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.