Allen Mooney & Barnes Investment Advisors LLC Boosts Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Allen Mooney & Barnes Investment Advisors LLC grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 10.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,345 shares of the computer hardware maker’s stock after purchasing an additional 1,103 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in NVIDIA were worth $1,230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spectrum Asset Management Inc. NB CA boosted its position in shares of NVIDIA by 48.6% during the 1st quarter. Spectrum Asset Management Inc. NB CA now owns 2,875 shares of the computer hardware maker’s stock worth $312,000 after purchasing an additional 940 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in shares of NVIDIA by 5.0% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,933,144 shares of the computer hardware maker’s stock valued at $209,514,000 after purchasing an additional 92,707 shares during the period. Kelly Financial Services LLC boosted its holdings in NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock worth $513,000 after buying an additional 94 shares in the last quarter. Members Wealth LLC grew its position in NVIDIA by 7.2% during the first quarter. Members Wealth LLC now owns 13,208 shares of the computer hardware maker’s stock worth $1,432,000 after buying an additional 886 shares during the period. Finally, Sapient Capital LLC increased its holdings in NVIDIA by 0.7% in the first quarter. Sapient Capital LLC now owns 811,622 shares of the computer hardware maker’s stock valued at $87,972,000 after buying an additional 5,476 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen boosted their price target on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Morgan Stanley restated an “overweight” rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Rosenblatt Securities boosted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.78.

NVIDIA Trading Up 0.5%

Shares of NVDA stock opened at $155.02 on Friday. The firm’s 50-day simple moving average is $129.83 and its 200-day simple moving average is $126.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $156.72. The firm has a market cap of $3.78 trillion, a P/E ratio of 50.01, a PEG ratio of 1.36 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the prior year, the business earned $0.61 EPS. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 (DPR) is presently 1.29%.

Insiders Place Their Bets

In other news, Director A Brooke Seawell sold 54,467 shares of the stock in a transaction dated 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 transaction, the director now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $144.26, for a total value of $7,213,000.00. Following the completion of the sale, the chief executive officer now owns 75,723,225 shares of the company’s stock, valued at $10,923,832,438.50. This trade represents a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,468,863 shares of company stock worth $495,150,332 over the last quarter. 4.17% of the stock is owned by corporate 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.