SOA Wealth Advisors LLC. Grows Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

SOA Wealth Advisors LLC. lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 32.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,791 shares of the computer hardware maker’s stock after purchasing an additional 39,529 shares during the period. NVIDIA accounts for about 2.0% of SOA Wealth Advisors LLC.’s holdings, making the stock its 7th biggest position. SOA Wealth Advisors LLC.’s holdings in NVIDIA were worth $17,318,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA in the fourth quarter worth about $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the 4th quarter worth $40,000. Copia Wealth Management bought a new position in shares of NVIDIA in the 4th quarter worth $50,000. Finally, LSV Asset Management bought a new position in shares of NVIDIA in the 4th quarter worth $54,000. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NVDA shares. KeyCorp set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. UBS Group reiterated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Finally, HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.05.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director now directly owns 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 transaction, the director now directly owns 26,671,360 shares of the company’s stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,469,685 shares of company stock worth $349,669,962. Insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $143.83 on Friday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $153.13. The stock has a market cap of $3.51 trillion, a price-to-earnings ratio of 46.40, a PEG ratio of 1.28 and a beta of 2.12. The company’s 50 day moving average is $126.37 and its two-hundred day moving average is $126.69. 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 (NASDAQ:NVDA) last released 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 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 quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given 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 presently 1.29%.

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.