Financial Enhancement Group LLC Grows Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Financial Enhancement Group LLC grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,065 shares of the computer hardware maker’s stock after buying an additional 1,832 shares during the quarter. Financial Enhancement Group LLC’s holdings in NVIDIA were worth $5,445,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Loop Capital lifted their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Mizuho set a $192.00 target price on NVIDIA in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Raymond James Financial increased their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.92.

Insider Activity

In related news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Monday, July 14th. The shares were sold at an average price of $164.36, for a total value of $12,327,000.00. Following the transaction, the chief executive officer directly owned 74,648,225 shares of the company’s stock, valued at $12,269,182,261. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director A Brooke Seawell sold 48,792 shares of the company’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the sale, the director owned 1,729,478 shares of the company’s stock, valued at $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,767,150 shares of company stock valued at $701,030,045 over the last 90 days. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Up 4.0%

Shares of NVDA opened at $170.70 on Wednesday. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $172.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock has a 50 day simple moving average of $143.67 and a two-hundred day simple moving average of $129.10. The firm has a market cap of $4.17 trillion, a P/E ratio of 55.06, a P/E/G ratio of 1.45 and a beta of 2.13.

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 business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. On average, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis 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%.

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.