HBK Sorce Advisory LLC Acquires 5,543 Shares of NVIDIA Corporation (NASDAQ:NVDA)

HBK Sorce Advisory LLC increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 200,594 shares of the computer hardware maker’s stock after acquiring an additional 5,543 shares during the quarter. NVIDIA comprises about 0.6% of HBK Sorce Advisory LLC’s investment portfolio, making the stock its 15th largest holding. HBK Sorce Advisory LLC’s holdings in NVIDIA were worth $21,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NVDA. Centerpoint Advisory Group raised its stake in NVIDIA by 2.5% in the first 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 in the last quarter. GSB Wealth Management LLC increased its holdings in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock valued at $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC increased its holdings in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock valued at $2,038,000 after buying an additional 3,206 shares during the period. Financial Perspectives Inc raised its position in shares of NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock valued at $4,981,000 after buying an additional 1,265 shares in the last quarter. Finally, Hickory Point Bank & Trust bought a new stake in shares of NVIDIA during the 4th quarter worth approximately $2,272,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the sale, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,767,150 shares of company stock worth $701,030,045 over the last ninety days. Corporate insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NVDA shares. Raymond James Financial lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. UBS Group reiterated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. DA Davidson upped their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. The Goldman Sachs Group began coverage on NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective on the stock. Finally, Jefferies Financial Group boosted their target price on NVIDIA from $185.00 to $200.00 in a research note on Wednesday. One 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 issued a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Trading Up 0.4%

Shares of NVDA stock opened at $171.37 on Thursday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $172.40. 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 stock has a market cap of $4.18 trillion, a price-to-earnings ratio of 55.28, a PEG ratio of 1.51 and a beta of 2.13. The stock has a 50-day moving average of $144.76 and a 200-day moving average of $129.39.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share. On average, equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend 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 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.