Investment Partners Asset Management Inc. Has $2.75 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Investment Partners Asset Management Inc. boosted its stake in NVIDIA Corporation (NASDAQ:NVDA) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,362 shares of the computer hardware maker’s stock after purchasing an additional 2,529 shares during the period. NVIDIA comprises about 2.2% of Investment Partners Asset Management Inc.’s holdings, making the stock its 6th largest holding. Investment Partners Asset Management Inc.’s holdings in NVIDIA were worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Tacita Capital Inc bought a new position in NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the fourth quarter worth $40,000. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter worth $50,000. Finally, Bruce G. Allen Investments LLC raised its stake in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after buying an additional 327 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $154.31 on Thursday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $154.45. The company’s 50-day moving average is $128.75 and its 200 day moving average is $126.78. The company has a market capitalization of $3.77 trillion, a price-to-earnings ratio of 49.78, a price-to-earnings-growth ratio of 1.31 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. Sell-side analysts expect 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 paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of analyst reports. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Susquehanna reissued a “positive” rating and set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, Mizuho raised their price target on shares of NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.78.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 608,248 shares of the firm’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $145.26, for a total value of $88,354,104.48. Following the completion of the transaction, the director now directly owns 8,247,600 shares of the company’s stock, valued at approximately $1,198,046,376. This trade represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 54,467 shares of the firm’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $146.88, for a total transaction of $8,000,112.96. Following the completion of the transaction, the director now directly owns 1,834,570 shares of the company’s stock, valued at approximately $269,461,641.60. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,393,863 shares of company stock worth $483,709,832. Company insiders own 4.17% of the company’s stock.

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.