Stonebrook Private Inc. Has $7.65 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Stonebrook Private Inc. raised its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 25.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,621 shares of the computer hardware maker’s stock after buying an additional 14,427 shares during the period. NVIDIA accounts for about 2.0% of Stonebrook Private Inc.’s portfolio, making the stock its 12th largest holding. Stonebrook Private Inc.’s holdings in NVIDIA were worth $7,654,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the 4th quarter valued at about $38,000. Copia Wealth Management bought a new position in shares of NVIDIA in the 4th quarter valued at about $50,000. LSV Asset Management bought a new position in shares of NVIDIA in the 4th quarter valued at about $54,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of NVIDIA in the 1st quarter valued at about $51,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $180.00 on Tuesday. 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 capitalization of $4.39 trillion, a PE ratio of 58.06, a PEG ratio of 1.53 and a beta of 2.14. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of the company’s 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 transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s 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 transaction, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,339,800 shares of company stock valued at $800,141,003 in the last quarter. 4.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Seaport Res Ptn raised shares of NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Rosenblatt Securities lifted their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Morgan Stanley lifted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Barclays lifted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, June 17th. One research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $182.03.

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.