Cushing Capital Partners LLC Acquires 537 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Cushing Capital Partners LLC lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 16.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,724 shares of the computer hardware maker’s stock after purchasing an additional 537 shares during the period. Cushing Capital Partners LLC’s holdings in NVIDIA were worth $404,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. SC&H Financial Advisors Inc. raised its position in shares of NVIDIA by 1.6% in the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock worth $681,000 after acquiring an additional 80 shares in the last quarter. DecisionPoint Financial LLC boosted its holdings in NVIDIA by 2.9% in the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock worth $386,000 after buying an additional 80 shares during the period. BCR Wealth Strategies LLC grew its position in NVIDIA by 3.1% in the fourth quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker’s stock worth $391,000 after acquiring an additional 89 shares in the last quarter. Condor Capital Management lifted its stake in shares of NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after purchasing an additional 89 shares during the last quarter. Finally, Squire Investment Management Company LLC grew its stake in NVIDIA by 4.0% in the 4th quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker’s stock worth $317,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $159.28 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 51.38, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $160.98. The company has a 50 day moving average price of $136.38 and a 200 day moving average price of $127.84.

NVIDIA (NASDAQ:NVDA) last issued its 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 firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations 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 firm posted $0.61 EPS. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

Insider Activity

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director A Brooke Seawell sold 51,740 shares of NVIDIA stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $154.62, for a total value of $8,000,038.80. Following the sale, the director directly owned 1,576,709 shares in the company, valued at approximately $243,790,745.58. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,044,919 shares of company stock worth $584,414,209 over the last 90 days. Company insiders own 4.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Bank of America boosted their price target on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. KeyCorp set a $190.00 target price on NVIDIA in a report on Wednesday, March 19th. Citigroup restated a “buy” rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. William Blair reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. One investment 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $176.19.

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.