Steph & Co. Buys 217 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Steph & Co. increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 11.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,076 shares of the computer hardware maker’s stock after purchasing an additional 217 shares during the quarter. Steph & Co.’s holdings in NVIDIA were worth $225,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Centerpoint Advisory Group boosted its stake in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock valued at $4,270,000 after purchasing an additional 943 shares during the period. GSB Wealth Management LLC boosted its position in shares of NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock valued at $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC grew its stake in shares of NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after acquiring an additional 3,206 shares during the last quarter. Financial Perspectives Inc grew its stake in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after acquiring an additional 1,265 shares during the last quarter. Finally, Hickory Point Bank & Trust acquired a new position in NVIDIA during the 4th quarter valued at $2,272,000. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The stock was 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 of the company’s stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. 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 corporate insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $170.70 on Wednesday. The stock has a 50-day simple moving average of $143.67 and a 200 day simple moving average of $129.10. The stock has a market capitalization of $4.17 trillion, a price-to-earnings ratio of 55.06, a P/E/G ratio of 1.45 and a beta of 2.13. 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 $172.40.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVDA shares. Wedbush restated an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. The Goldman Sachs Group started coverage on NVIDIA in a research report on Thursday, July 10th. They set a “buy” rating and a $185.00 target price on the stock. Barclays raised their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. William Blair restated an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Thursday, April 3rd. One 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $177.92.

NVIDIA Company 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.