Poinciana Advisors Group LLC Has $825,000 Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Poinciana Advisors Group LLC increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 25.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,616 shares of the computer hardware maker’s stock after acquiring an additional 1,560 shares during the quarter. NVIDIA comprises 0.9% of Poinciana Advisors Group LLC’s holdings, making the stock its 22nd largest holding. Poinciana Advisors Group LLC’s holdings in NVIDIA were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Astoria Portfolio Advisors LLC. lifted its stake in NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker’s stock valued at $9,610,000 after buying an additional 864 shares during the period. Centerpoint Advisory Group lifted its stake in NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock valued at $4,270,000 after buying an additional 943 shares during the period. GSB Wealth Management LLC lifted its stake in NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock valued at $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its stake in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock valued at $2,038,000 after buying an additional 3,206 shares during the period. Finally, Financial Perspectives Inc raised its position in shares of NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after purchasing an additional 1,265 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NVDA. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Summit Insights raised NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. Barclays upped their target price on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. Finally, Rosenblatt Securities upped their target price on NVIDIA from $178.00 to $200.00 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 given a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $182.03.

NVIDIA Stock Up 3.6%

Shares of NASDAQ:NVDA opened at $180.00 on Tuesday. The company has a market capitalization of $4.39 trillion, a PE ratio of 58.06, a price-to-earnings-growth ratio of 1.53 and a beta of 2.14. 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 business has a fifty day moving average price of $156.27 and a two-hundred day moving average price of $132.58. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30.

NVIDIA (NASDAQ:NVDA) last posted 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 firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. Analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid 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 0.0%. NVIDIA’s dividend payout ratio is presently 1.29%.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,339,800 shares of company stock worth $800,141,003 over the last 90 days. 4.17% of the stock is owned by insiders.

About NVIDIA

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.