Carmel Capital Partners LLC Boosts Stock Position in NVIDIA Corporation $NVDA

Carmel Capital Partners LLC raised its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 8.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,639 shares of the computer hardware maker’s stock after purchasing an additional 807 shares during the quarter. Carmel Capital Partners LLC’s holdings in NVIDIA were worth $1,153,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NVDA. Bingham Private Wealth LLC grew its holdings in NVIDIA by 13.8% in the first quarter. Bingham Private Wealth LLC now owns 17,938 shares of the computer hardware maker’s stock valued at $1,944,000 after purchasing an additional 2,171 shares during the period. Meridian Wealth Advisors LLC lifted its position in NVIDIA by 52.0% during the first quarter. Meridian Wealth Advisors LLC now owns 88,076 shares of the computer hardware maker’s stock worth $9,546,000 after buying an additional 30,150 shares in the last quarter. Lowery Thomas LLC lifted its position in NVIDIA by 4.9% during the first quarter. Lowery Thomas LLC now owns 6,033 shares of the computer hardware maker’s stock worth $654,000 after buying an additional 280 shares in the last quarter. Sargent Investment Group LLC raised its holdings in NVIDIA by 14.8% in the 1st quarter. Sargent Investment Group LLC now owns 67,123 shares of the computer hardware maker’s stock valued at $7,275,000 after buying an additional 8,638 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in shares of NVIDIA by 4.3% in the 1st quarter. Lindbrook Capital LLC now owns 252,771 shares of the computer hardware maker’s stock worth $27,395,000 after acquiring an additional 10,496 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.9%

NASDAQ:NVDA opened at $180.45 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business’s 50-day moving average is $163.96 and its two-hundred day moving average is $135.52. The firm has a market capitalization 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. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48.

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 net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the company posted $0.61 earnings per share. The business’s revenue was up 69.2% on a year-over-year basis. Research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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 dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the transaction, the chief financial officer directly owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on 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 transaction, 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. In the last three months, insiders have sold 5,837,440 shares of company stock worth $889,404,782. 4.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler set a $225.00 target price on NVIDIA and gave the company an “overweight” rating in a research report on Wednesday. DA Davidson upped their target price on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Truist Financial upped their price objective on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Morgan Stanley increased their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial increased their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 29th. 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’s stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.33.

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.