Tyche Wealth Partners LLC Grows Position in NVIDIA Corporation (NASDAQ:NVDA)

Tyche Wealth Partners LLC boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 6.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 75,440 shares of the computer hardware maker’s stock after buying an additional 4,472 shares during the period. NVIDIA makes up approximately 1.8% of Tyche Wealth Partners LLC’s holdings, making the stock its 12th largest holding. Tyche Wealth Partners LLC’s holdings in NVIDIA were worth $8,176,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. Centerpoint Advisory Group boosted its holdings in NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock worth $4,270,000 after acquiring an additional 943 shares in the last quarter. GSB Wealth Management LLC increased its stake in shares of 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 purchasing an additional 1,043 shares in the last quarter. Variant Private Wealth LLC grew its holdings in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock valued at $2,038,000 after purchasing an additional 3,206 shares during the period. Financial Perspectives Inc lifted its position in shares of NVIDIA by 2.8% during 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 acquired a new position in NVIDIA during the fourth quarter worth about $2,272,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $173.00 on Friday. The business’s 50 day moving average is $145.88 and its two-hundred day moving average is $129.63. 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 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. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.16.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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). 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 analyst estimates of $43.09 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have commented on NVDA. UBS Group restated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Loop Capital raised their target price on shares of NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. DA Davidson raised their price target on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Finally, Oppenheimer upped their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.22.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $164.36, for a total value of $12,327,000.00. Following the sale, the chief executive officer owned 74,648,225 shares in the company, valued at approximately $12,269,182,261. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A Brooke Seawell sold 48,792 shares of the business’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. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,814,800 shares of company stock worth $709,172,753. 4.17% of the stock is currently owned by company insiders.

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.