Money Concepts Capital Corp Boosts Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Money Concepts Capital Corp increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,485 shares of the computer hardware maker’s stock after purchasing an additional 6,935 shares during the quarter. NVIDIA makes up approximately 0.7% of Money Concepts Capital Corp’s holdings, making the stock its 26th largest holding. Money Concepts Capital Corp’s holdings in NVIDIA were worth $8,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Tacita Capital Inc acquired a new stake in NVIDIA in the 4th quarter worth about $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the 4th quarter worth about $38,000. Copia Wealth Management acquired a new stake in NVIDIA in the 4th quarter worth about $50,000. Bruce G. Allen Investments LLC lifted its stake in shares of 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 in the last quarter. Finally, LSV Asset Management acquired a new position in shares of NVIDIA in the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.3%

NASDAQ:NVDA opened at $172.41 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.25. The firm 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. 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 has a 50 day simple moving average of $146.99 and a 200 day simple moving average of $129.86.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Analysts Set New Price Targets

NVDA has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA 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. Citigroup lifted their price objective on NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Finally, Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. One investment 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.22.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,964,800 shares of company stock worth $734,906,003. Insiders own 4.17% of the company’s stock.

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.