Park Place Capital Corp Buys 3,274 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Park Place Capital Corp grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,421 shares of the computer hardware maker’s stock after acquiring an additional 3,274 shares during the period. NVIDIA comprises approximately 2.0% of Park Place Capital Corp’s investment portfolio, making the stock its 11th biggest holding. Park Place Capital Corp’s holdings in NVIDIA were worth $7,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Tacita Capital Inc purchased a new stake in NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the fourth quarter worth $50,000. Bruce G. Allen Investments LLC raised its holdings in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after buying an additional 327 shares during the last quarter. Finally, LSV Asset Management purchased a new position in shares of NVIDIA in the fourth quarter worth $54,000. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred 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 directly owned 74,348,225 shares of the company’s stock, valued at $12,826,555,777. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 27,650 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the transaction, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,964,800 shares of company stock valued at $734,906,003. 4.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NVDA shares. Raymond James Financial increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 29th. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Jefferies Financial Group increased their price objective on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.22.

NVIDIA Stock Down 0.3%

NVIDIA stock opened at $172.41 on Friday. The company has a 50-day simple moving average of $146.99 and a 200-day simple moving average of $129.86. 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 quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.25.

NVIDIA (NASDAQ:NVDA) last announced its 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business earned $0.61 EPS. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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