Bigelow Investment Advisors LLC Has $2.56 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

Bigelow Investment Advisors LLC raised its stake in NVIDIA Corporation (NASDAQ:NVDA) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,606 shares of the computer hardware maker’s stock after buying an additional 129 shares during the quarter. NVIDIA accounts for about 1.2% of Bigelow Investment Advisors LLC’s portfolio, making the stock its 18th largest position. Bigelow Investment Advisors LLC’s holdings in NVIDIA were worth $2,558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA during the fourth quarter worth about $50,000. LSV Asset Management acquired a new stake in shares of NVIDIA during the fourth quarter worth about $54,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of NVIDIA by 198.2% during 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 period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 1.3%

Shares of NASDAQ NVDA opened at $159.28 on Friday. The stock has a market capitalization of $3.89 trillion, a P/E ratio of 51.38, a PEG ratio of 1.41 and a beta of 2.13. The stock’s fifty day moving average is $136.38 and its 200 day moving average is $127.83. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $160.98. 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 announced 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). The firm 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 company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the company’s stock in a transaction on 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 sale, the executive vice president owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on NVDA. Loop Capital raised their price target on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Barclays lifted their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Susquehanna reissued a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. 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 company. 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.