Professional Advisory Services Inc. Purchases 380 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Professional Advisory Services Inc. grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,380 shares of the computer hardware maker’s stock after buying an additional 380 shares during the period. Professional Advisory Services Inc.’s holdings in NVIDIA were worth $908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Hickory Point Bank & Trust purchased a new position in shares of NVIDIA in the fourth quarter valued at $2,272,000. BTC Capital Management Inc. boosted its stake in NVIDIA by 2.3% during the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock worth $35,785,000 after buying an additional 7,476 shares during the period. Capital Performance Advisors LLP lifted its position in shares of NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Waddell & Associates LLC lifted its position in shares of NVIDIA by 1.2% during the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after purchasing an additional 297 shares during the last quarter. Finally, Strategy Asset Managers LLC lifted its position in shares of NVIDIA by 0.8% during the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock worth $7,024,000 after purchasing an additional 405 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 1.1%

NASDAQ NVDA opened at $143.83 on Friday. The business has a fifty day moving average price of $126.37 and a 200 day moving average price of $126.69. NVIDIA Corporation has a one year low of $86.62 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a market cap of $3.51 trillion, a P/E ratio of 46.40, a P/E/G ratio of 1.28 and a beta of 2.12.

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

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

NVDA has been the subject of several recent research reports. Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Barclays upped their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.05.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director now owns 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,469,685 shares of company stock worth $349,669,962. 4.17% of the stock is currently owned by company insiders.

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.