Inman Jager Wealth Management LLC Grows Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Inman Jager Wealth Management LLC increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 10.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,335 shares of the computer hardware maker’s stock after purchasing an additional 851 shares during the quarter. Inman Jager Wealth Management LLC’s holdings in NVIDIA were worth $1,012,000 as of its most recent filing with the SEC.

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

NVIDIA Trading Up 1.0%

Shares of NVDA stock opened at $173.00 on Friday. The firm has a market capitalization of $4.22 trillion, a PE ratio of 55.81, a PEG ratio of 1.51 and a beta of 2.13. The stock has a fifty day simple moving average of $145.88 and a two-hundred day simple moving average of $129.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.16.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. On average, analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed 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 was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.29%.

Insider Activity

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company’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 completion of the transaction, the chief executive officer owned 74,648,225 shares of the company’s stock, valued at approximately $12,269,182,261. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 27,650 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the transaction, the chief financial officer owned 2,984,516 shares of the company’s stock, valued at $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,814,800 shares of company stock worth $709,172,753. 4.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on NVDA shares. Oppenheimer raised their price objective on NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday. Phillip Securities raised NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a “buy” rating and a $185.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $181.22.

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.