Financial Gravity Asset Management Inc. Invests $811,000 in NVIDIA Corporation (NASDAQ:NVDA)

Financial Gravity Asset Management Inc. acquired a new position in shares of NVIDIA Corporation (NASDAQ:NVDA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,479 shares of the computer hardware maker’s stock, valued at approximately $811,000.

Several other large investors also recently made changes to their positions in the stock. FMR LLC increased its position in shares of NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after acquiring an additional 3,721,331 shares in the last quarter. Norges Bank bought a new position in NVIDIA in the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp grew its position in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $180.00 on Tuesday. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a 50-day moving average of $156.27 and a 200-day moving average of $132.58. The stock has a market cap of $4.39 trillion, a PE ratio of 58.06, a P/E/G ratio of 1.53 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the firm earned $0.61 EPS. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 0.0%. NVIDIA’s payout ratio is 1.29%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $178.74, for a total value of $13,405,500.00. Following the completion of the sale, the chief executive officer owned 73,748,225 shares in the company, valued at $13,181,757,736.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction 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 $510,023,939.24. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock worth $800,141,003 in the last quarter. 4.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of analyst reports. Jefferies Financial Group raised their target price on shares of NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Phillip Securities raised shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 14th. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Finally, UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. 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’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $182.03.

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.