Beacon Capital Management LLC Purchases 3,672 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Beacon Capital Management LLC lifted its position in NVIDIA Corporation (NASDAQ:NVDA) by 5.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 75,138 shares of the computer hardware maker’s stock after purchasing an additional 3,672 shares during the period. NVIDIA comprises approximately 1.1% of Beacon Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Beacon Capital Management LLC’s holdings in NVIDIA were worth $8,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tacita Capital Inc bought a new position in shares of NVIDIA in the fourth quarter worth approximately $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the fourth quarter worth approximately $38,000. Copia Wealth Management bought a new position in shares of NVIDIA in the fourth quarter worth approximately $50,000. LSV Asset Management bought a new position in shares of NVIDIA in the fourth quarter worth approximately $54,000. Finally, Bruce G. Allen Investments LLC grew its holdings 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 worth $53,000 after purchasing an additional 327 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA 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 sale, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the director owned 1,576,709 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 4,044,919 shares of company stock worth $584,414,209. 4.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVDA. TD Cowen raised 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. Rosenblatt Securities raised 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. Benchmark reaffirmed a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research raised NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $176.19.

NVIDIA Price Performance

NVDA opened at $159.28 on Friday. The stock has a 50-day moving average price of $136.38 and a 200-day moving average price of $127.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market cap of $3.89 trillion, a PE ratio of 51.38, a P/E/G ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $160.98.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the prior year, the firm earned $0.61 EPS. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA Company 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.