Pure Financial Advisors LLC Has $11.89 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Pure Financial Advisors LLC grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,738 shares of the computer hardware maker’s stock after acquiring an additional 7,293 shares during the period. Pure Financial Advisors LLC’s holdings in NVIDIA were worth $11,893,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NVDA. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $38,000. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter worth approximately $50,000. Bruce G. Allen Investments LLC lifted its stake in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after purchasing an additional 327 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in shares of NVIDIA during the 4th quarter valued at $54,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 1.0%

Shares of NVIDIA stock opened at $173.00 on Friday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $174.16. The stock has a 50-day moving average price of $145.88 and a 200 day moving average price of $129.63. The company has a market cap 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.

NVIDIA (NASDAQ:NVDA) last posted 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). 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 the consensus estimate of $43.09 billion. During the same quarter last year, the business earned $0.61 EPS. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. As a group, analysts expect that NVIDIA Corporation will post 2.77 EPS 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 issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVDA. Needham & Company LLC raised their price target on shares of NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. Raymond James Financial boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Loop Capital increased their target price on shares of NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Finally, The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective for the company. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.22.

Insider Buying and Selling

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director owned 1,729,478 shares of the company’s stock, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 27,650 shares of the firm’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the transaction, the chief financial officer directly owned 2,984,516 shares of the company’s stock, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,814,800 shares of company stock worth $709,172,753. Corporate insiders own 4.17% of the company’s stock.

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.