Friday Financial Grows Stake in NVIDIA Corporation (NASDAQ:NVDA)

Friday Financial lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 42.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,572 shares of the computer hardware maker’s stock after buying an additional 1,072 shares during the period. Friday Financial’s holdings in NVIDIA were worth $394,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Tacita Capital Inc bought a new stake in NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $50,000. LSV Asset Management purchased a new position in NVIDIA during the 4th quarter valued at $54,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 target price (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. The Goldman Sachs Group initiated coverage on NVIDIA in a research report on Thursday. They issued a “buy” rating and a $185.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Finally, TD Cowen upped their target price on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.03.

NVIDIA Stock Up 0.5%

NASDAQ:NVDA opened at $164.92 on Friday. The firm has a 50-day simple moving average of $141.53 and a two-hundred day simple moving average of $128.69. 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 cap of $4.02 trillion, a P/E ratio of 53.20, a P/E/G ratio of 1.46 and a beta of 2.13. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $167.89.

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 business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the previous year, the business posted $0.61 EPS. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. Analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s payout ratio is currently 1.29%.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $163.11, for a total transaction of $12,233,250.00. Following the sale, the chief executive officer owned 74,873,225 shares in the company, valued at $12,212,571,729.75. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director A Brooke Seawell sold 49,131 shares of NVIDIA stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $162.83, for a total transaction of $8,000,000.73. Following the sale, the director owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. The trade was a 2.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,520,246 shares of company stock worth $660,253,045. Company insiders own 4.17% of the company’s stock.

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.