IFP Advisors Inc Has $41.01 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

IFP Advisors Inc boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,353 shares of the computer hardware maker’s stock after purchasing an additional 29,508 shares during the quarter. NVIDIA comprises approximately 1.3% of IFP Advisors Inc’s investment portfolio, making the stock its 5th biggest position. IFP Advisors Inc’s holdings in NVIDIA were worth $41,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Condor Capital Management increased its stake in shares of NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after buying an additional 89 shares during the period. High Note Wealth LLC increased its stake in shares of NVIDIA by 0.5% in the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker’s stock valued at $1,937,000 after buying an additional 91 shares during the period. Kelly Financial Services LLC increased its stake in shares of NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock valued at $513,000 after buying an additional 94 shares during the period. Mendel Capital Management LLC increased its stake in shares of NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock valued at $1,287,000 after buying an additional 96 shares during the period. Finally, Affiance Financial LLC increased its stake in shares of NVIDIA by 0.7% in the first quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker’s stock valued at $1,479,000 after buying an additional 97 shares during the period. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NVDA shares. Rosenblatt Securities upped their price objective on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. The Goldman Sachs Group started coverage on NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective for the company. TD Cowen upped their price objective on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Wells Fargo & Company increased their target price on shares of NVIDIA from $185.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 11th. Finally, DA Davidson increased their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.33.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was 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 trade represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 completion of 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 in the last 90 days. 4.17% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of 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 business’s fifty day moving average is $163.96 and its 200 day moving average is $135.45. 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 stock has a market cap of $4.40 trillion, a P/E ratio of 58.21, a P/E/G ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm 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. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. Sell-side analysts anticipate 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. Investors of record on Wednesday, June 11th were issued 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 currently 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.