Spectrum Asset Management Inc. NB CA Acquires 940 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Spectrum Asset Management Inc. NB CA raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 48.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,875 shares of the computer hardware maker’s stock after acquiring an additional 940 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in NVIDIA were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Hickory Point Bank & Trust bought a new stake in NVIDIA during the 4th quarter worth approximately $2,272,000. BTC Capital Management Inc. boosted its position in shares of NVIDIA by 2.3% in the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock worth $35,785,000 after purchasing an additional 7,476 shares during the period. Capital Performance Advisors LLP increased its stake in shares of NVIDIA by 59.3% in 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 in the last quarter. Waddell & Associates LLC raised its position in shares of NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after purchasing an additional 297 shares during the period. Finally, Strategy Asset Managers LLC lifted its stake in shares of NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock valued at $7,024,000 after buying an additional 405 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVDA. Loop Capital increased their price target on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James Financial upped their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 29th. Bank of America increased their target price on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Finally, Rosenblatt Securities upped their price target on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $175.78.

NVIDIA Stock Performance

NASDAQ NVDA opened at $155.02 on Friday. The business’s 50 day moving average price is $129.83 and its 200-day moving average price is $126.89. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $156.72. The company has a market cap of $3.78 trillion, a P/E ratio of 50.01, a P/E/G ratio of 1.36 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 posted its quarterly earnings data 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 net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the firm earned $0.61 EPS. The company’s revenue was up 69.2% on a year-over-year basis. Sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 935,000 shares of the business’s 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 sale, the director now directly owns 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’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 owns 26,671,360 shares in the company, valued at approximately $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. Insiders have sold 3,468,863 shares of company stock valued at $495,150,332 in the last ninety days. 4.17% of the stock is owned by company insiders.

NVIDIA 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.