Aspen Capital Management LLC Takes $3.09 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Aspen Capital Management LLC acquired a new stake in NVIDIA Corporation (NASDAQ:NVDA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,520 shares of the computer hardware maker’s stock, valued at approximately $3,091,000. NVIDIA comprises 1.0% of Aspen Capital Management LLC’s holdings, making the stock its 17th largest position.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after purchasing an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in NVIDIA by 1.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock worth $315,100,000 after purchasing an additional 22,929 shares during the last quarter. Highview Capital Management LLC DE increased its position in NVIDIA by 6.7% during the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock worth $7,842,000 after purchasing an additional 3,653 shares during the last quarter. Hudson Value Partners LLC increased its position in NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock worth $6,805,000 after purchasing an additional 11,900 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in NVIDIA during the fourth quarter worth approximately $3,380,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several recent research reports. Truist Financial increased their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Oppenheimer increased their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective for the company. Loop Capital increased their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Finally, Needham & Company LLC increased their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. One 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.33.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total transaction 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. This represents a 0.10% 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 worth $889,404,782 over the last three months. 4.17% of the stock is owned by corporate insiders.

NVIDIA Stock Down 0.9%

Shares of NASDAQ:NVDA opened at $180.45 on Friday. The stock has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The company’s fifty day moving average is $163.96 and its two-hundred day moving average is $135.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

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.