Hidden Cove Wealth Management LLC Purchases 114 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Hidden Cove Wealth Management LLC lifted its stake in NVIDIA Corporation (NASDAQ:NVDA) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,709 shares of the computer hardware maker’s stock after acquiring an additional 114 shares during the quarter. NVIDIA makes up approximately 2.0% of Hidden Cove Wealth Management LLC’s investment portfolio, making the stock its 13th largest position. Hidden Cove Wealth Management LLC’s holdings in NVIDIA were worth $2,570,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. The Goldman Sachs Group assumed coverage on NVIDIA in a report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective for the company. Jefferies Financial Group lifted their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday. Wedbush restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Finally, UBS Group restated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% 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 worth $734,906,003 in the last 90 days. Insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $172.41 on Friday. The business’s 50-day moving average is $146.99 and its two-hundred day moving average is $129.86. 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 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.

NVIDIA (NASDAQ:NVDA) last announced 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The company’s revenue was up 69.2% compared to the same quarter last year. Research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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