CarsonAllaria Wealth Management Ltd. Raises Stake in NVIDIA Corporation (NASDAQ:NVDA)

CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,757 shares of the computer hardware maker’s stock after buying an additional 300 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in NVIDIA were worth $516,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the fourth quarter valued at about $38,000. Copia Wealth Management bought a new stake in NVIDIA during the 4th quarter valued at approximately $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA in the 1st quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC grew its position 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 during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVDA stock opened at $173.50 on Friday. The firm has a 50 day moving average price of $150.95 and a 200-day moving average price of $130.86. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.72. The firm has a market capitalization of $4.23 trillion, a price-to-earnings ratio of 55.97, a PEG ratio of 1.53 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 (NASDAQ:NVDA) last released 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal 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 issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s payout ratio is currently 1.29%.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred 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 sale, the chief executive officer directly owned 75,548,225 shares of the company’s stock, 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 have sold 5,114,800 shares of company stock valued at $760,553,003 in the last quarter. Insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research analyst reports. The Goldman Sachs Group began coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a “buy” rating and a $185.00 price objective for the company. Oppenheimer increased their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Phillip Securities raised shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 14th. Needham & Company LLC raised their price target on shares of NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.22.

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.