Allegiance Financial Group Advisory Services LLC Raises Stake in NVIDIA Corporation (NASDAQ:NVDA)

Allegiance Financial Group Advisory Services LLC increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 27.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,236 shares of the computer hardware maker’s stock after purchasing an additional 1,565 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in NVIDIA were worth $784,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NVDA. Norges Bank purchased a new stake in NVIDIA during the 4th quarter worth about $43,515,504,000. GAMMA Investing LLC lifted its holdings in NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares in the last quarter. Northern Trust Corp lifted its holdings in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of NVIDIA by 204.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $2,987,733,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. DA Davidson raised their price target on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Jefferies Financial Group raised their price target on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Summit Insights raised NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Finally, Loop Capital raised their price target on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.33.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. The trade was a 9.21% 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. 4.17% of the stock is owned by company insiders.

NVIDIA Trading Down 0.9%

NVDA opened at $180.45 on Friday. The stock has a market cap of $4.40 trillion, a PE ratio of 58.21, a PEG ratio of 1.60 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. The business has a 50 day moving average of $163.96 and a 200-day moving average of $135.36. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48.

NVIDIA (NASDAQ:NVDA) last released its 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). The firm had revenue of $44.06 billion during 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%. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. Equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

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.