NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,694 shares of the computer hardware maker’s stock after purchasing an additional 2,622 shares during the quarter. NVIDIA makes up 2.1% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 12th biggest holding. Ipswich Investment Management Co. Inc.’s holdings in NVIDIA were worth $8,420,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new stake in NVIDIA during the fourth quarter valued at about $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the fourth quarter valued at about $38,000. Copia Wealth Management purchased a new stake in NVIDIA during the fourth quarter valued at about $50,000. Bruce G. Allen Investments LLC grew its position 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 valued at $53,000 after acquiring an additional 327 shares during the period. Finally, LSV Asset Management purchased a new stake in NVIDIA during the fourth quarter valued at about $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, Director A Brooke Seawell sold 50,980 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $156.92, for a total value of $7,999,781.60. Following the sale, the director now directly owns 1,679,361 shares in the company, valued at $263,525,328.12. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now owns 201,044 shares in the company, valued at approximately $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,792,267 shares of company stock worth $544,823,117 in the last three months. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Up 1.8%

Shares of NVIDIA stock opened at $157.75 on Friday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $130.96 and its 200-day simple moving average is $126.97. The stock has a market capitalization of $3.85 trillion, a price-to-earnings ratio of 50.89, a PEG ratio of 1.40 and a beta of 2.12. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $158.71.

NVIDIA (NASDAQ:NVDA) last announced 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). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. Equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced 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 currently 1.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NVDA shares. Loop Capital boosted their price target on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Finally, Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.78.

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.