Prospect Hill Management LLC Has $3.46 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Prospect Hill Management LLC raised its position in NVIDIA Corporation (NASDAQ:NVDA) by 24.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,909 shares of the computer hardware maker’s stock after purchasing an additional 6,259 shares during the quarter. NVIDIA accounts for about 1.8% of Prospect Hill Management LLC’s holdings, making the stock its 10th biggest holding. Prospect Hill Management LLC’s holdings in NVIDIA were worth $3,458,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Copia Wealth Management bought a new position in shares of NVIDIA during the fourth quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of NVIDIA during the first quarter worth about $51,000. Bruce G. Allen Investments LLC raised its position 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 worth $53,000 after acquiring an additional 327 shares during the last quarter. LSV Asset Management bought a new position in shares of NVIDIA during the fourth quarter worth about $54,000. Finally, Delos Wealth Advisors LLC raised its position 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 worth $66,000 after acquiring an additional 283 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVDA. Morgan Stanley raised their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. TD Cowen raised their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Piper Sandler set a $225.00 target price on NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Finally, DA Davidson raised their target price on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued 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 currently has an average rating of “Moderate Buy” and an average target price of $186.33.

NVIDIA Stock Down 0.9%

NVDA stock opened at $180.45 on Friday. The stock’s fifty day simple moving average is $163.96 and its two-hundred day simple moving average is $135.36. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The stock has a market cap of $4.40 trillion, a P/E ratio of 58.21, a P/E/G ratio of 1.60 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last posted 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the prior year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 20,000 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.06, for a total value of $3,561,200.00. Following the sale, the chief financial officer directly owned 153,060 shares in the company, valued at $27,253,863.60. The trade was a 11.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s 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 completion of the sale, the chief executive officer owned 72,998,225 shares in the company, valued at approximately $13,240,418,050.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,837,440 shares of company stock worth $889,404,782. Corporate insiders own 4.17% of the company’s stock.

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.