ABLE Financial Group LLC Buys 7,772 Shares of NVIDIA Corporation (NASDAQ:NVDA)

ABLE Financial Group LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 25.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 38,535 shares of the computer hardware maker’s stock after purchasing an additional 7,772 shares during the period. NVIDIA accounts for about 1.2% of ABLE Financial Group LLC’s investment portfolio, making the stock its 24th biggest holding. ABLE Financial Group LLC’s holdings in NVIDIA were worth $4,176,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NVDA. Condor Capital Management boosted its stake in shares of 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 boosted its stake in shares of 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. Foundry Financial Group Inc. boosted its stake in shares of NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock worth $589,000 after acquiring an additional 96 shares during the period. Mendel Capital Management LLC boosted its stake in shares of NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock worth $1,287,000 after acquiring an additional 96 shares during the period. Finally, Wallace Hart LLC boosted its stake in shares of NVIDIA by 3.9% in the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock worth $349,000 after acquiring an additional 97 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 1.7%

NVDA opened at $173.74 on Friday. The stock has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.05, a P/E/G ratio of 1.50 and a beta of 2.13. The stock’s 50 day moving average price is $150.19 and its 200-day moving average price is $130.70. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.25. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 the consensus estimate of $43.09 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is currently 1.29%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NVDA shares. Citigroup upped their price objective on NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Loop Capital boosted their target price on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Raymond James Financial boosted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. Rosenblatt Securities boosted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Finally, Truist Financial boosted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. One 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the 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 transaction, the director owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,114,800 shares of company stock worth $760,553,003 in the last ninety days. 4.17% of the stock is owned by company insiders.

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.