Barnes Pettey Financial Advisors LLC Has $2.29 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Barnes Pettey Financial Advisors LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 8.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,135 shares of the computer hardware maker’s stock after purchasing an additional 1,700 shares during the quarter. NVIDIA accounts for about 1.8% of Barnes Pettey Financial Advisors LLC’s portfolio, making the stock its 14th largest holding. Barnes Pettey Financial Advisors LLC’s holdings in NVIDIA were worth $2,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Condor Capital Management lifted its position in NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after buying an additional 89 shares during the period. Kelly Financial Services LLC raised its position in shares of NVIDIA by 2.0% in the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock worth $513,000 after purchasing an additional 94 shares during the last quarter. Foundry Financial Group Inc. raised its position in shares of NVIDIA by 2.2% in the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock worth $589,000 after purchasing an additional 96 shares during the last quarter. Mendel Capital Management LLC raised its position in shares of NVIDIA by 0.8% in the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock worth $1,287,000 after purchasing an additional 96 shares during the last quarter. Finally, Wallace Hart LLC raised its position in shares of NVIDIA by 3.9% in the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock worth $349,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 0.6%

Shares of NVDA opened at $171.38 on Tuesday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.25. The firm’s 50 day moving average is $146.99 and its 200-day moving average is $129.81. The stock has a market capitalization of $4.18 trillion, a PE ratio of 55.28, a P/E/G ratio of 1.52 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last issued its 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 company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 EPS. Equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. 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 dividend payout ratio (DPR) is currently 1.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NVDA shares. UBS Group restated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. DA Davidson boosted their price target on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Barclays boosted their price target on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. One investment 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.22.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.88, for a total value of $3,417,600.00. Following the transaction, the chief financial officer directly owned 163,060 shares in the company, valued at $27,863,692.80. The trade was a 10.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $172.52, for a total transaction of $12,939,000.00. Following the completion of the transaction, the chief executive officer owned 74,348,225 shares in the company, valued at approximately $12,826,555,777. The trade was a 0.10% decrease in their ownership of the stock. 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. Corporate 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.