Moran Wealth Management LLC Boosts Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Moran Wealth Management LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 21.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 308,564 shares of the computer hardware maker’s stock after buying an additional 55,408 shares during the period. NVIDIA comprises 1.1% of Moran Wealth Management LLC’s portfolio, making the stock its 12th largest holding. Moran Wealth Management LLC’s holdings in NVIDIA were worth $33,442,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Condor Capital Management raised its stake in shares of NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after acquiring an additional 89 shares during the period. Squire Investment Management Company LLC raised its position in NVIDIA by 4.0% in the 4th quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker’s stock worth $317,000 after purchasing an additional 91 shares during the period. Kelly Financial Services LLC raised its position in NVIDIA by 2.0% in the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock worth $513,000 after purchasing an additional 94 shares during the period. Macroview Investment Management LLC lifted its stake in NVIDIA by 2.9% in the fourth quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker’s stock worth $461,000 after purchasing an additional 96 shares during the last quarter. Finally, Foundry Financial Group Inc. boosted its position in shares of NVIDIA by 2.2% during the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock valued at $589,000 after buying an additional 96 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,767,150 shares of company stock valued at $701,030,045. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $170.70 on Wednesday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $172.40. The business’s fifty day simple moving average is $143.67 and its 200-day simple moving average is $129.10. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.17 trillion, a PE ratio of 55.06, a PEG ratio of 1.45 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter last year, the firm earned $0.61 earnings per share. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. Analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

NVDA has been the topic of several recent analyst reports. Mizuho set a $192.00 price target on NVIDIA in a report on Tuesday. Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. UBS Group reiterated a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Oppenheimer upped their price target on shares of NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. One equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $177.92.

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.