Cahaba Wealth Management Inc. Buys 973 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Cahaba Wealth Management Inc. raised its stake in NVIDIA Corporation (NASDAQ:NVDA) by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,323 shares of the computer hardware maker’s stock after purchasing an additional 973 shares during the period. NVIDIA accounts for approximately 0.2% of Cahaba Wealth Management Inc.’s investment portfolio, making the stock its 27th largest holding. Cahaba Wealth Management Inc.’s holdings in NVIDIA were worth $2,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Condor Capital Management grew its stake in shares of NVIDIA by 3.6% during 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. High Note Wealth LLC grew its stake in shares of NVIDIA by 0.5% during the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker’s stock worth $1,937,000 after acquiring an additional 91 shares during the last quarter. Kelly Financial Services LLC grew its stake in shares of NVIDIA by 2.0% during the first 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 last quarter. Foundry Financial Group Inc. grew its stake in shares of NVIDIA by 2.2% during the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock worth $589,000 after acquiring an additional 96 shares during the last quarter. Finally, Mendel Capital Management LLC grew its stake in shares of NVIDIA by 0.8% during the first 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 last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 1.1%

Shares of NVDA stock opened at $182.67 on Friday. 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 company has a market cap of $4.46 trillion, a price-to-earnings ratio of 58.93, a PEG ratio of 1.59 and a beta of 2.14. The stock has a 50 day simple moving average of $159.82 and a 200-day simple moving average of $133.80. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.88.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s payout ratio is presently 1.29%.

Analysts Set New Price Targets

A number of research firms recently commented on NVDA. Phillip Securities raised NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 14th. TD Cowen lifted their target price on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Raymond James Financial lifted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. Rosenblatt Securities lifted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Finally, Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.75.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $182.38, for a total transaction of $13,678,500.00. Following the completion of the sale, the chief executive officer directly owned 73,223,225 shares in the company, valued at approximately $13,354,451,775.50. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value 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 approximately $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,687,440 shares of company stock valued at $862,095,782 over the last quarter. 4.17% of the stock is owned by company insiders.

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.