Aspect Partners LLC Buys 2,414 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Aspect Partners LLC increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 71.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,812 shares of the computer hardware maker’s stock after purchasing an additional 2,414 shares during the quarter. Aspect Partners LLC’s holdings in NVIDIA were worth $630,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Norges Bank bought a new position in NVIDIA in the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC boosted its stake in NVIDIA by 12,173.2% in 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 during the last quarter. Northern Trust Corp boosted its stake in NVIDIA by 15.8% in 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 during the last quarter. Proficio Capital Partners LLC boosted its stake in NVIDIA by 14,641.2% in 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 during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in NVIDIA by 204.6% in 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 during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NVDA shares. 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. Phillip Securities upgraded shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 14th. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, DA Davidson increased their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. One investment 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 assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $181.22.

Insider Buying and Selling at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,964,800 shares of company stock valued at $734,906,003 over the last ninety days. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $172.41 on Friday. The firm has a 50-day moving average of $146.99 and a 200-day moving average of $129.86. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.25. The company has a market cap 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 (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s 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 earnings per share. As a group, equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 annualized dividend and a yield of 0.02%. 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.