TKG Advisors LLC Boosts Position in NVIDIA Corporation (NASDAQ:NVDA)

TKG Advisors LLC grew its position in NVIDIA Corporation (NASDAQ:NVDA) by 12.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,236 shares of the computer hardware maker’s stock after buying an additional 5,498 shares during the quarter. NVIDIA accounts for 2.6% of TKG Advisors LLC’s holdings, making the stock its 11th largest holding. TKG Advisors LLC’s holdings in NVIDIA were worth $5,228,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in NVIDIA during the 4th quarter valued at about $43,515,504,000. GAMMA Investing LLC raised its stake in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the last quarter. Northern Trust Corp raised its holdings in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Proficio Capital Partners LLC grew its holdings in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in NVIDIA by 204.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock worth $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research analyst reports. Loop Capital lifted their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Morgan Stanley reissued an “overweight” rating and set a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Bank of America raised their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Seaport Res Ptn raised shares of NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Finally, Rosenblatt Securities increased their price target on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $181.22.

NVIDIA Stock Performance

Shares of NVDA opened at $176.75 on Tuesday. The stock has a market cap of $4.31 trillion, a P/E ratio of 57.02, a PEG ratio of 1.53 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $177.00. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $151.77 and a two-hundred day moving average of $131.09.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter last year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’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 transaction, the director owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,264,800 shares of company stock worth $786,735,503. 4.17% of the stock is currently owned by corporate 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.