Virtus Wealth Solutions LLC Acquires 9,316 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Virtus Wealth Solutions LLC increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 320,802 shares of the computer hardware maker’s stock after acquiring an additional 9,316 shares during the quarter. NVIDIA comprises 10.6% of Virtus Wealth Solutions LLC’s investment portfolio, making the stock its 4th biggest position. Virtus Wealth Solutions LLC’s holdings in NVIDIA were worth $34,768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the 4th quarter valued at about $38,000. Copia Wealth Management acquired a new position in NVIDIA in the 4th quarter valued at about $50,000. LSV Asset Management acquired a new position in NVIDIA in the 4th quarter valued at about $54,000. Finally, Bruce G. Allen Investments LLC boosted its holdings 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 valued at $53,000 after purchasing an additional 327 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $172.52, for a total value of $12,939,000.00. Following the completion of the sale, the chief executive officer owned 74,348,225 shares in the company, valued at approximately $12,826,555,777. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares of the company’s stock, valued at $510,023,939.24. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,964,800 shares of company stock worth $734,906,003. Company insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective on the stock. UBS Group restated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. TD Cowen upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. DA Davidson upped their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Finally, Citigroup upped their target price on shares of NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Stock Down 0.3%

Shares of NASDAQ:NVDA opened at $172.41 on Friday. The stock has a market cap 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. The firm has a fifty day moving average price of $146.99 and a 200 day moving average price of $129.90. 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.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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 business 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 firm’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. Sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

NVIDIA Company 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.