Mattern Wealth Management LLC Raises Position in NVIDIA Corporation (NASDAQ:NVDA)

Mattern Wealth Management LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,450 shares of the computer hardware maker’s stock after buying an additional 195 shares during the quarter. NVIDIA comprises about 0.8% of Mattern Wealth Management LLC’s holdings, making the stock its 23rd largest position. Mattern Wealth Management LLC’s holdings in NVIDIA were worth $3,625,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NVDA. Norges Bank bought a new position in shares of NVIDIA in the 4th quarter worth $43,515,504,000. GAMMA Investing LLC lifted its holdings in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares during the last quarter. Northern Trust Corp grew 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 worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC grew 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 worth $4,656,682,000 after acquiring an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after acquiring an additional 23,948,733 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NVDA opened at $170.70 on Wednesday. The company has a 50-day simple moving average of $143.67 and a two-hundred day simple moving average of $129.10. 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 firm has a market capitalization of $4.17 trillion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 1.45 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $172.40.

NVIDIA (NASDAQ:NVDA) last released 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 firm 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%. The company’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. On average, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NVDA shares. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Raymond James Financial raised their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.92.

Insider Transactions at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $164.36, for a total transaction 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. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,767,150 shares of company stock worth $701,030,045 over the last ninety days. Insiders own 4.17% of the company’s stock.

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.