Spinnaker Investment Group LLC Buys 1,585 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Spinnaker Investment Group LLC grew its stake in NVIDIA Corporation (NASDAQ:NVDA) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,535 shares of the computer hardware maker’s stock after acquiring an additional 1,585 shares during the period. NVIDIA accounts for approximately 0.7% of Spinnaker Investment Group LLC’s holdings, making the stock its 17th largest position. Spinnaker Investment Group LLC’s holdings in NVIDIA were worth $2,876,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NVDA. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter worth about $50,000. Bruce G. Allen Investments LLC grew its holdings in 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. Finally, LSV Asset Management bought a new position in NVIDIA during the fourth quarter worth about $54,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research analyst reports. Arete Research upgraded NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Rosenblatt Securities lifted their price target on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Citigroup lifted their price target on NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, KeyCorp set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.03.

NVIDIA Price Performance

NVDA stock opened at $164.92 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $167.89. 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. The company’s 50-day moving average price is $141.53 and its two-hundred day moving average price is $128.69.

NVIDIA (NASDAQ:NVDA) last released 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). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share. On average, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared 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. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insider Activity at NVIDIA

In related 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 directly owned 74,873,225 shares of the company’s stock, valued at approximately $12,212,571,729.75. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 directly owned 1,826,382 shares in the company, valued at $297,389,781.06. This trade represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock worth $660,253,045 over the last ninety days. 4.17% of the stock is currently owned by insiders.

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.