Mayflower Financial Advisors LLC Acquires 1,898 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Mayflower Financial Advisors LLC increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,748 shares of the computer hardware maker’s stock after acquiring an additional 1,898 shares during the period. NVIDIA makes up 1.1% of Mayflower Financial Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Mayflower Financial Advisors LLC’s holdings in NVIDIA were worth $7,126,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NVDA. Copia Wealth Management purchased a new position in NVIDIA in the fourth quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in NVIDIA in the first quarter worth about $51,000. Bruce G. Allen Investments LLC raised its holdings in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after buying an additional 327 shares during the last quarter. LSV Asset Management purchased a new position in NVIDIA in the fourth quarter worth about $54,000. Finally, Delos Wealth Advisors LLC raised its holdings in NVIDIA by 134.8% in the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock worth $66,000 after buying an additional 283 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total value of $13,603,500.00. Following the sale, the chief executive officer owned 72,998,225 shares of the company’s stock, valued at approximately $13,240,418,050.50. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction on Monday, August 4th. The shares were 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 directly owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,837,440 shares of company stock worth $889,404,782. Insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVDA shares. DA Davidson lifted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Loop Capital lifted their target price on shares of NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $185.00 to $220.00 and gave the company an “overweight” rating in a report on Monday. Barclays boosted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.97.

NVIDIA Price Performance

NVIDIA stock opened at $181.62 on Thursday. The company has a market cap of $4.43 trillion, a price-to-earnings ratio of 58.59, a PEG ratio of 1.61 and a beta of 2.14. The firm’s fifty day moving average is $162.34 and its 200 day moving average is $134.56. 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 Corporation has a 52-week low of $86.62 and a 52-week high of $184.48.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 51.69% and a return on equity of 105.09%. NVIDIA’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 company earned $0.61 EPS. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is currently 1.29%.

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.