J. L. Bainbridge & Co. Inc. Raises Stake in NVIDIA Corporation (NASDAQ:NVDA)

J. L. Bainbridge & Co. Inc. raised its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 72.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,334 shares of the computer hardware maker’s stock after purchasing an additional 6,444 shares during the quarter. J. L. Bainbridge & Co. Inc.’s holdings in NVIDIA were worth $1,662,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the fourth quarter valued at $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the 4th quarter worth about $38,000. Copia Wealth Management bought a new position in NVIDIA during the 4th quarter worth about $50,000. LSV Asset Management bought a new position in NVIDIA during the 4th quarter worth about $54,000. Finally, Bruce G. Allen Investments LLC grew its holdings in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction 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 firm’s stock in a transaction that occurred 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 directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,964,800 shares of company stock valued at $734,906,003. 4.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Jefferies Financial Group raised their price target on shares of NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Benchmark reissued a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Thursday, April 3rd. Finally, Phillip Securities raised shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.22.

NVIDIA Stock Performance

NASDAQ NVDA opened at $171.38 on Tuesday. The firm has a market capitalization of $4.18 trillion, a P/E ratio of 55.28, 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. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.25. The business’s 50-day simple moving average is $146.99 and its 200-day simple moving average is $129.81.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 EPS. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. Equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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