Powers Advisory Group LLC Boosts Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Powers Advisory Group LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 29.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,565 shares of the computer hardware maker’s stock after purchasing an additional 590 shares during the period. Powers Advisory Group LLC’s holdings in NVIDIA were worth $278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA in the fourth quarter valued at $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the fourth quarter valued at $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA in the fourth quarter valued at $50,000. LSV Asset Management bought a new stake in shares of NVIDIA in the fourth quarter valued at $54,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after buying an additional 327 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NVDA shares. Susquehanna restated a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Rosenblatt Securities boosted their target price on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. TD Cowen boosted their target price on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Finally, Citigroup reiterated a “buy” rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given 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 a consensus rating of “Moderate Buy” and a consensus target price of $175.78.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of the company’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president now directly owns 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The transaction 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 value of $142,800,000.00. Following the completion of the transaction, the director now 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. In the last three months, insiders sold 3,792,267 shares of company stock worth $544,823,117. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

NVDA opened at $157.75 on Friday. The stock has a 50-day moving average price of $130.96 and a 200-day moving average price of $126.97. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $158.71. 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 stock has a market capitalization of $3.85 trillion, a P/E ratio of 50.89, a PEG ratio of 1.40 and a beta of 2.12.

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

NVIDIA Announces Dividend

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

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.