IFC Advisors LLC Acquires 26,851 Shares of NVIDIA Corporation (NASDAQ:NVDA)

IFC Advisors LLC grew its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 74.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,831 shares of the computer hardware maker’s stock after purchasing an additional 26,851 shares during the quarter. NVIDIA comprises about 1.4% of IFC Advisors LLC’s portfolio, making the stock its 14th biggest position. IFC Advisors LLC’s holdings in NVIDIA were worth $6,810,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NVDA. Astoria Portfolio Advisors LLC. grew its position in NVIDIA by 0.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker’s stock valued at $9,610,000 after purchasing an additional 864 shares during the period. Centerpoint Advisory Group lifted its stake in shares of 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 in the last quarter. GSB Wealth Management LLC grew its holdings in shares of NVIDIA by 3.3% during 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 last quarter. Variant Private Wealth LLC increased its position in shares of NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after acquiring an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc raised its holdings in shares of NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after acquiring an additional 1,265 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $179.42 on Thursday. The stock’s 50-day simple moving average is $158.02 and its two-hundred day simple moving average is $133.22. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $183.30. The firm has a market capitalization of $4.38 trillion, a P/E ratio of 57.88, a P/E/G ratio of 1.57 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. As a group, equities analysts anticipate 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. Stockholders of record on Wednesday, June 11th were issued 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 payout ratio is currently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares of the company’s stock, valued at $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.16, for a total value of $13,362,000.00. Following the completion of the sale, the chief executive officer owned 73,523,225 shares of the company’s stock, valued at $13,098,897,766. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,537,440 shares of company stock valued at $835,035,782 over the last ninety days. 4.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NVDA shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Benchmark reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Loop Capital increased their target price on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Finally, DA Davidson boosted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $183.75.

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.