WNY Asset Management LLC Grows Stake in NVIDIA Corporation (NASDAQ:NVDA)

WNY Asset Management LLC boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,981 shares of the computer hardware maker’s stock after purchasing an additional 3,346 shares during the quarter. WNY Asset Management LLC’s holdings in NVIDIA were worth $4,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Montag A & Associates Inc. increased its holdings in NVIDIA by 4.9% during the 1st quarter. Montag A & Associates Inc. now owns 189,404 shares of the computer hardware maker’s stock worth $20,530,000 after purchasing an additional 8,853 shares during the period. Integrated Capital Management LLC increased its holdings in shares of NVIDIA by 39.8% in the 1st quarter. Integrated Capital Management LLC now owns 5,033 shares of the computer hardware maker’s stock valued at $546,000 after acquiring an additional 1,434 shares during the period. IFP Advisors Inc increased its holdings in shares of NVIDIA by 8.5% in the 1st quarter. IFP Advisors Inc now owns 378,353 shares of the computer hardware maker’s stock valued at $41,007,000 after acquiring an additional 29,508 shares during the period. Aspen Capital Management LLC purchased a new position in shares of NVIDIA in the 1st quarter valued at $3,091,000. Finally, OneAscent Financial Services LLC increased its holdings in shares of NVIDIA by 11.2% in the 1st quarter. OneAscent Financial Services LLC now owns 123,445 shares of the computer hardware maker’s stock valued at $13,427,000 after acquiring an additional 12,456 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVDA. Arete Research upgraded NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Phillip Securities upgraded NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 14th. Bank of America lifted their price target on NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. DA Davidson lifted their price target on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Finally, Raymond James Financial lifted their price target on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $186.33.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,837,440 shares of company stock worth $889,404,782. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $180.45 on Friday. The stock has a market cap of $4.40 trillion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The business has a 50-day simple moving average of $163.96 and a 200-day simple moving average of $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. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $184.48.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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). The company 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%. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. On average, equities analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s 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.