Fiduciary Group LLC Raises Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Fiduciary Group LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 95.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,995 shares of the computer hardware maker’s stock after purchasing an additional 39,971 shares during the quarter. Fiduciary Group LLC’s holdings in NVIDIA were worth $8,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NVDA. Wealth Group Ltd. boosted its stake in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick bought a new position in NVIDIA in the 4th quarter worth about $972,000. Ironwood Wealth Management LLC. boosted its stake in NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after purchasing an additional 104 shares in the last quarter. Brighton Jones LLC boosted its stake in NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after purchasing an additional 35,815 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in NVIDIA in the 4th quarter worth about $145,796,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVDA opened at $173.50 on Friday. The business’s 50-day moving average is $150.95 and its two-hundred day moving average is $130.86. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $174.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $4.23 trillion, a PE ratio of 55.97, a price-to-earnings-growth ratio of 1.53 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion during 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 in the prior year, the business posted $0.61 EPS. Research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued 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 dividend payout ratio is presently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares of the company’s stock, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director directly owned 1,729,478 shares of the company’s stock, valued at $283,565,212.88. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,114,800 shares of company stock valued at $760,553,003. 4.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. UBS Group reiterated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

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.