Gallacher Capital Management LLC Acquires 366 Shares of NVIDIA Corporation $NVDA

Gallacher Capital Management LLC lifted its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 5.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,943 shares of the computer hardware maker’s stock after buying an additional 366 shares during the quarter. Gallacher Capital Management LLC’s holdings in NVIDIA were worth $752,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. 4WEALTH Advisors Inc. increased its position in NVIDIA by 14.5% in the first quarter. 4WEALTH Advisors Inc. now owns 19,768 shares of the computer hardware maker’s stock worth $2,143,000 after purchasing an additional 2,502 shares during the period. Aire Advisors LLC increased its position in NVIDIA by 3.3% in the first quarter. Aire Advisors LLC now owns 58,790 shares of the computer hardware maker’s stock worth $6,372,000 after purchasing an additional 1,852 shares during the period. Summit Wealth & Retirement Planning Inc. increased its position in NVIDIA by 7.6% in the first quarter. Summit Wealth & Retirement Planning Inc. now owns 10,994 shares of the computer hardware maker’s stock worth $1,192,000 after purchasing an additional 772 shares during the period. RD Lewis Holdings Inc. increased its position in NVIDIA by 5.2% in the first quarter. RD Lewis Holdings Inc. now owns 19,447 shares of the computer hardware maker’s stock worth $2,227,000 after purchasing an additional 970 shares during the period. Finally, Chancellor Financial Group WB LP increased its position in NVIDIA by 10.3% in the first quarter. Chancellor Financial Group WB LP now owns 32,559 shares of the computer hardware maker’s stock worth $3,529,000 after purchasing an additional 3,028 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on NVDA shares. Bank of America lifted their price objective on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. DA Davidson lifted their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. BNP Paribas upgraded NVIDIA to a “hold” rating in a research report on Friday, August 1st. Citigroup boosted their target price on NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Finally, Mizuho boosted their target price on NVIDIA from $192.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.33.

NVIDIA Trading Down 0.9%

Shares of NVIDIA stock opened at $180.45 on Monday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $184.48. 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. 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 business’s 50 day moving average is $163.96 and its 200-day moving average is $135.52.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the company posted $0.61 EPS. The firm’s revenue was up 69.2% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Corporate insiders own 4.17% of the company’s stock.

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.