Beirne Wealth Consulting Services LLC Boosts Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Beirne Wealth Consulting Services LLC boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 135.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,962 shares of the computer hardware maker’s stock after acquiring an additional 3,430 shares during the period. Beirne Wealth Consulting Services LLC’s holdings in NVIDIA were worth $646,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Condor Capital Management lifted its holdings in NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock worth $344,000 after acquiring an additional 89 shares during the last quarter. Kelly Financial Services LLC boosted its position in NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock worth $513,000 after acquiring an additional 94 shares during the period. Foundry Financial Group Inc. lifted its holdings in NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock worth $589,000 after purchasing an additional 96 shares during the period. Mendel Capital Management LLC lifted its stake in shares of NVIDIA by 0.8% in the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock worth $1,287,000 after acquiring an additional 96 shares during the period. Finally, Wallace Hart LLC boosted its stake in NVIDIA by 3.9% during the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock valued at $349,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 0.7%

NASDAQ NVDA opened at $179.42 on Thursday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The stock has a 50-day simple moving average of $158.02 and a 200 day simple moving average of $133.22. 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 market capitalization of $4.38 trillion, a PE ratio of 57.88, a P/E/G ratio of 1.57 and a beta of 2.14.

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

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 1.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho set a $192.00 price objective on shares of NVIDIA and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. DA Davidson lifted their target price on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Loop Capital upped their price target on shares of NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 25th. Morgan Stanley raised their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.75.

Insider Activity

In related news, EVP Ajay K. Puri sold 168,195 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares in the company, 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. In the last three months, insiders sold 5,537,440 shares of company stock valued at $835,035,782. 4.17% of the stock is owned by company 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.