Smith Salley Wealth Management Purchases 6,135 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Smith Salley Wealth Management grew its position in NVIDIA Corporation (NASDAQ:NVDA) by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 658,691 shares of the computer hardware maker’s stock after purchasing an additional 6,135 shares during the period. NVIDIA makes up 4.7% of Smith Salley Wealth Management’s holdings, making the stock its 3rd largest position. Smith Salley Wealth Management’s holdings in NVIDIA were worth $71,389,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. 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 buying an additional 89 shares during the last quarter. 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 buying an additional 94 shares during the last quarter. 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 buying an additional 96 shares during the last quarter. 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 buying an additional 96 shares during the last quarter. 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 buying an additional 97 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction 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 $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’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 transaction, the director owned 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,114,800 shares of company stock valued at $760,553,003. Corporate insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Citigroup increased their price target on NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Thursday, April 3rd. Finally, TD Cowen increased their price target on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Price Performance

NVDA stock opened at $173.74 on Friday. The business has a fifty day moving average of $150.19 and a two-hundred day moving average of $130.70. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.05, a price-to-earnings-growth ratio of 1.50 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.25.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.29%.

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.