NVIDIA Corporation (NASDAQ:NVDA) Holdings Increased by Forte Capital LLC ADV

Forte Capital LLC ADV grew its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 234,759 shares of the computer hardware maker’s stock after purchasing an additional 871 shares during the period. NVIDIA comprises approximately 3.0% of Forte Capital LLC ADV’s holdings, making the stock its 6th largest holding. Forte Capital LLC ADV’s holdings in NVIDIA were worth $25,443,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVDA. Morgan Stanley raised their price target on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Oppenheimer raised their price objective on NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Raymond James Financial raised their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 29th. Citigroup raised their price objective on NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Finally, BNP Paribas raised NVIDIA to a “hold” rating in a research report on Friday, August 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $185.97.

NVIDIA Trading Down 0.8%

NASDAQ NVDA opened at $181.62 on Thursday. 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. The stock has a market capitalization of $4.43 trillion, a PE ratio of 58.59, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. The firm has a 50 day moving average of $162.34 and a two-hundred day moving average of $134.56.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The company’s revenue was up 69.2% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,837,440 shares of company stock worth $889,404,782. Insiders own 4.17% of the company’s stock.

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.