OneAscent Financial Services LLC Has $13.43 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

OneAscent Financial Services LLC raised its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 11.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,445 shares of the computer hardware maker’s stock after acquiring an additional 12,456 shares during the period. NVIDIA comprises about 0.9% of OneAscent Financial Services LLC’s investment portfolio, making the stock its 23rd largest holding. OneAscent Financial Services LLC’s holdings in NVIDIA were worth $13,427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CBIZ Investment Advisory Services LLC raised its holdings in shares of NVIDIA by 60.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 4,470 shares of the computer hardware maker’s stock worth $485,000 after acquiring an additional 1,689 shares during the period. Counterweight Ventures LLC raised its holdings in shares of NVIDIA by 2.0% during the first quarter. Counterweight Ventures LLC now owns 48,689 shares of the computer hardware maker’s stock worth $5,277,000 after acquiring an additional 961 shares during the period. National Mutual Insurance Federation of Agricultural Cooperatives raised its holdings in shares of NVIDIA by 22.8% during the first quarter. National Mutual Insurance Federation of Agricultural Cooperatives now owns 511,000 shares of the computer hardware maker’s stock worth $55,382,000 after acquiring an additional 95,000 shares during the period. Dahring Cusmano LLC raised its holdings in shares of NVIDIA by 6.9% during the first quarter. Dahring Cusmano LLC now owns 1,994 shares of the computer hardware maker’s stock worth $216,000 after acquiring an additional 128 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of NVIDIA by 5.1% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 4,641 shares of the computer hardware maker’s stock worth $503,000 after acquiring an additional 226 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ NVDA opened at $180.45 on Friday. 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 company has a market capitalization 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 Corporation has a 12-month low of $86.62 and a 12-month high of $184.48. The firm has a 50-day moving average price of $163.96 and a two-hundred day moving average price of $135.45.

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

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at approximately $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. Insiders have sold 5,837,440 shares of company stock valued at $889,404,782 in the last quarter. 4.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research analyst reports. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. DA Davidson lifted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Phillip Securities upgraded shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 14th. Finally, Morgan Stanley lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.33.

NVIDIA 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.