NVIDIA Corporation (NASDAQ:NVDA) Holdings Lifted by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC increased its position in NVIDIA Corporation (NASDAQ:NVDA) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 342,338 shares of the computer hardware maker’s stock after buying an additional 3,182 shares during the quarter. NVIDIA comprises about 5.6% of Steel Grove Capital Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Steel Grove Capital Advisors LLC’s holdings in NVIDIA were worth $37,103,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in NVIDIA in the fourth quarter valued at about $43,515,504,000. GAMMA Investing LLC raised its position in NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after purchasing an additional 48,439,859 shares during the period. Northern Trust Corp raised its position in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Proficio Capital Partners LLC raised its position in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock worth $3,864,026,000 after acquiring an additional 23,948,733 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Loop Capital lifted their target price on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. DA Davidson lifted their target price on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Finally, Hsbc Global Res downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. 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, NVIDIA has an average rating of “Moderate Buy” and an average target price of $176.19.

Insider Buying and Selling

In other NVIDIA news, 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 transaction, the executive vice president owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 51,740 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total value of $8,000,038.80. Following the completion of the transaction, the director directly owned 1,576,709 shares in the company, valued at $243,790,745.58. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last quarter. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $159.28 on Friday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $160.98. The stock has a market cap of $3.89 trillion, a price-to-earnings ratio of 51.38, a PEG ratio of 1.41 and a beta of 2.13. The stock’s 50 day moving average price is $136.38 and its 200 day moving average price is $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.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the firm earned $0.61 EPS. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a dividend of $0.01 per share. 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%.

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.