LifeSteps Financial Inc. Has $5.20 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

LifeSteps Financial Inc. cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,976 shares of the computer hardware maker’s stock after selling 1,133 shares during the period. NVIDIA accounts for 4.2% of LifeSteps Financial Inc.’s portfolio, making the stock its 4th biggest position. LifeSteps Financial Inc.’s holdings in NVIDIA were worth $5,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after buying an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC raised its position in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new position in shares of NVIDIA in the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp grew its stake in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on NVDA. Oppenheimer upped their price target on NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Bank of America increased their target price on NVIDIA from $180.00 to $220.00 in a report on Wednesday. Needham & Company LLC raised their price objective on NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Rosenblatt Securities upped their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.22.

NVIDIA Price Performance

NVDA stock opened at $173.00 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $174.16. The firm has a market capitalization of $4.22 trillion, a P/E ratio of 55.81, a P/E/G ratio of 1.51 and a beta of 2.13. The business’s 50-day moving average is $145.88 and its two-hundred day moving average 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 the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.61 earnings per share. Analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared 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 of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,814,800 shares of company stock valued at $709,172,753. Insiders own 4.17% of the company’s stock.

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.