SNS Financial Group LLC Has $1.23 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

SNS Financial Group LLC reduced its position in NVIDIA Corporation (NASDAQ:NVDA) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,333 shares of the computer hardware maker’s stock after selling 97 shares during the period. SNS Financial Group LLC’s holdings in NVIDIA were worth $1,228,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Prospect Hill Management LLC increased its holdings in shares of NVIDIA by 24.4% during the 1st quarter. Prospect Hill Management LLC now owns 31,909 shares of the computer hardware maker’s stock valued at $3,458,000 after acquiring an additional 6,259 shares during the last quarter. Brogan Financial Inc. increased its holdings in shares of NVIDIA by 30.6% during the 1st quarter. Brogan Financial Inc. now owns 4,929 shares of the computer hardware maker’s stock valued at $534,000 after acquiring an additional 1,154 shares during the last quarter. PCG Wealth Advisors LLC increased its holdings in shares of NVIDIA by 3.4% during the 1st quarter. PCG Wealth Advisors LLC now owns 18,657 shares of the computer hardware maker’s stock valued at $2,022,000 after acquiring an additional 619 shares during the last quarter. Mainstay Capital Management LLC ADV increased its holdings in shares of NVIDIA by 2.8% during the 1st quarter. Mainstay Capital Management LLC ADV now owns 32,589 shares of the computer hardware maker’s stock valued at $3,532,000 after acquiring an additional 882 shares during the last quarter. Finally, Carnegie Lake Advisors LLC increased its holdings in shares of NVIDIA by 33.3% during the 1st quarter. Carnegie Lake Advisors LLC now owns 6,710 shares of the computer hardware maker’s stock valued at $727,000 after acquiring an additional 1,675 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Down 0.9%

NASDAQ:NVDA opened at $180.45 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-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. The firm has a market capitalization 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. The stock’s fifty day simple moving average is $163.96 and its 200-day simple moving average is $135.36.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVDA. DA Davidson increased their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. The Goldman Sachs Group assumed coverage on NVIDIA in a research note on Thursday, July 10th. They set a “buy” rating and a $185.00 target price for the company. Loop Capital increased their target price on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Finally, Raymond James Financial increased their target price on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. One investment 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.33.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,837,440 shares of company stock valued at $889,404,782 over the last 90 days. Company 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.