NVIDIA Corporation (NASDAQ:NVDA) Shares Acquired by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,589 shares of the computer hardware maker’s stock after acquiring an additional 882 shares during the quarter. NVIDIA comprises about 0.5% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 12th biggest holding. Mainstay Capital Management LLC ADV’s holdings in NVIDIA were worth $3,532,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Copia Wealth Management acquired a new position in shares of NVIDIA in the 4th quarter worth $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA in the 1st quarter worth $51,000. Bruce G. Allen Investments LLC grew its holdings in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after acquiring an additional 327 shares during the last quarter. LSV Asset Management acquired a new position in shares of NVIDIA in the 4th quarter worth $54,000. Finally, Delos Wealth Advisors LLC grew its holdings in shares of NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock worth $66,000 after acquiring an additional 283 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $180.45 on Friday. The stock has a market cap of $4.40 trillion, a P/E ratio of 58.21, a PEG ratio of 1.60 and a beta of 2.14. The company’s 50-day simple moving average is $163.96 and its 200 day simple moving average is $135.36. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48. 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 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent research reports. 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. Jefferies Financial Group lifted their price objective on shares of NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Bank of America lifted their price objective on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. DA Davidson lifted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Finally, Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. One investment 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.33.

Insider Buying and Selling at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Company 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.