Beech Hill Advisors Inc. Has $3.42 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Beech Hill Advisors Inc. raised its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 184.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,567 shares of the computer hardware maker’s stock after buying an additional 20,450 shares during the quarter. NVIDIA accounts for about 1.4% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 29th largest position. Beech Hill Advisors Inc.’s holdings in NVIDIA were worth $3,421,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NVDA. Condor Capital Management increased its holdings in NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after purchasing an additional 89 shares during the last quarter. Kelly Financial Services LLC grew its stake in NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock valued at $513,000 after acquiring an additional 94 shares during the period. Macroview Investment Management LLC grew its stake in NVIDIA by 2.9% in the fourth quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker’s stock valued at $461,000 after acquiring an additional 96 shares during the period. Foundry Financial Group Inc. grew its stake in NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock valued at $589,000 after acquiring an additional 96 shares during the period. Finally, Wallace Hart LLC grew its stake in NVIDIA by 3.9% in the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock valued at $349,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NVDA. DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Citigroup boosted their target price on NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Raymond James Financial boosted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Summit Insights raised NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Finally, UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. One research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $181.22.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $172.52, for a total transaction of $12,939,000.00. Following the sale, the chief executive officer owned 74,348,225 shares of the company’s stock, valued at $12,826,555,777. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock valued at $734,906,003 over the last 90 days. 4.17% of the stock is owned by corporate insiders.

NVIDIA Trading Down 0.3%

Shares of NASDAQ:NVDA opened at $172.41 on Friday. The company has a market capitalization of $4.21 trillion, a P/E ratio of 55.62, a P/E/G ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $174.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business’s 50 day simple moving average is $146.99 and its 200 day simple moving average is $129.90.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company 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 company’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. On average, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given 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 was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

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.