MFG Wealth Management Inc. Has $3.30 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

MFG Wealth Management Inc. grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,456 shares of the computer hardware maker’s stock after acquiring an additional 894 shares during the period. NVIDIA comprises approximately 3.2% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. MFG Wealth Management Inc.’s holdings in NVIDIA were worth $3,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC raised its stake in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp raised its stake in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday. Needham & Company LLC lifted their price target on shares of NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Finally, TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $181.22.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,964,800 shares of company stock valued at $734,906,003. Company insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $172.41 on Friday. The firm has a market capitalization of $4.21 trillion, a PE ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. 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 $174.25. The company’s fifty day moving average price is $146.99 and its 200-day moving average price is $129.90.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 earnings per share. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.29%.

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.