Whalen Wealth Management Inc. Buys 6,172 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Whalen Wealth Management Inc. lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 16.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,816 shares of the computer hardware maker’s stock after acquiring an additional 6,172 shares during the period. NVIDIA accounts for about 3.1% of Whalen Wealth Management Inc.’s portfolio, making the stock its 8th largest position. Whalen Wealth Management Inc.’s holdings in NVIDIA were worth $4,640,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GSB Wealth Management LLC raised its holdings in NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock worth $3,534,000 after buying an additional 1,043 shares during the last quarter. Variant Private Wealth LLC raised its holdings in NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after buying an additional 3,206 shares during the last quarter. Financial Perspectives Inc raised its holdings in NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after buying an additional 1,265 shares during the last quarter. Hickory Point Bank & Trust acquired a new position in NVIDIA during the fourth quarter worth $2,272,000. Finally, Pegasus Asset Management Inc. raised its holdings in NVIDIA by 0.3% during the first quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker’s stock worth $8,318,000 after buying an additional 197 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several research reports. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Susquehanna reiterated a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Rosenblatt Securities upped their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. William Blair reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research note on Thursday. They issued a “buy” rating and a $185.00 target price for the company. One research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.03.

Insiders Place Their Bets

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

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $164.92 on Friday. The stock has a market cap of $4.02 trillion, a PE ratio of 53.20, a PEG ratio of 1.46 and a beta of 2.13. The company’s fifty day moving average is $141.53 and its 200 day moving average is $128.69. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $167.89. 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 (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. Research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 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.