Aspetuck Financial Management LLC Purchases Shares of 104,579 NVIDIA Corporation (NASDAQ:NVDA)

Aspetuck Financial Management LLC purchased a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 104,579 shares of the computer hardware maker’s stock, valued at approximately $11,334,000. NVIDIA accounts for 9.8% of Aspetuck Financial Management LLC’s holdings, making the stock its biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Group Ltd. increased its position in shares of NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after purchasing an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new position in NVIDIA during the 4th quarter valued at about $972,000. Capital & Planning LLC grew its holdings in shares of NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after buying an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. boosted its position in shares of NVIDIA by 1.6% in the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after acquiring an additional 104 shares during the last quarter. Finally, Brighton Jones LLC lifted its position in NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after buying an additional 35,815 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Oppenheimer boosted their target price on NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, DA Davidson upped their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Trading Up 1.0%

Shares of NVIDIA stock opened at $173.00 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.16. The company has a market cap of $4.22 trillion, a price-to-earnings ratio of 55.81, a PEG ratio of 1.51 and a beta of 2.13. 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’s 50-day moving average price is $145.88 and its 200-day moving average price is $129.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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 business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. On average, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction that occurred 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 owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,814,800 shares of company stock valued at $709,172,753 in the last 90 days. 4.17% of the stock is currently owned by company insiders.

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.