Summit Wealth & Retirement Planning Inc. Has $1.19 Million Position in NVIDIA Corporation $NVDA

Summit Wealth & Retirement Planning Inc. increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,994 shares of the computer hardware maker’s stock after purchasing an additional 772 shares during the period. NVIDIA makes up about 0.4% of Summit Wealth & Retirement Planning Inc.’s portfolio, making the stock its 28th biggest holding. Summit Wealth & Retirement Planning Inc.’s holdings in NVIDIA were worth $1,192,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NVDA. FMR LLC increased its stake in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its stake in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD increased its stake in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after acquiring an additional 3,721,331 shares during the period. Norges Bank bought a new position in NVIDIA during the 4th quarter worth $43,515,504,000. Finally, Northern Trust Corp increased its stake in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, 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 approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,837,440 shares of company stock valued at $889,404,782 in the last 90 days. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Stock Down 0.9%

Shares of NASDAQ:NVDA opened at $180.45 on Monday. The company has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a P/E/G ratio of 1.59 and a beta of 2.14. 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 200-day moving average is $135.52. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $184.48.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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). The business 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 firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. Equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid 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 of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio is 1.29%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVDA. 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 research note on Thursday, May 29th. Arete Research upgraded NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Morgan Stanley lifted their price target on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Mizuho lifted their price target on NVIDIA from $192.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Oppenheimer lifted their price target on NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price 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.