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

Summit Wealth & Retirement Planning Inc. grew its position in NVIDIA Corporation (NASDAQ:NVDA) by 7.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,994 shares of the computer hardware maker’s stock after buying an additional 772 shares during the period. NVIDIA accounts for approximately 0.4% of Summit Wealth & Retirement Planning Inc.’s investment portfolio, making the stock its 28th largest 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 and other institutional investors also recently made changes to their positions in NVDA. Copia Wealth Management acquired a new stake in shares of NVIDIA during the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of NVIDIA during the first quarter worth $51,000. Bruce G. Allen Investments LLC grew its stake in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after purchasing an additional 327 shares during the period. LSV Asset Management acquired a new stake in shares of NVIDIA during the fourth quarter worth $54,000. Finally, Delos Wealth Advisors LLC grew its stake in shares of NVIDIA by 134.8% during the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock worth $66,000 after purchasing an additional 283 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVDA. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Oppenheimer boosted their target price on NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. The Goldman Sachs Group initiated coverage on NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 target price for the company. Jefferies Financial Group boosted their target price on NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Finally, TD Cowen boosted their target price on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $186.33.

Insider Transactions at NVIDIA

In other news, 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 owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,837,440 shares of company stock worth $889,404,782 over the last three months. Company insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $180.45 on Monday. 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 stock’s 50 day moving average price is $163.96 and its two-hundred day moving average price is $135.52. The firm 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. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $184.48.

NVIDIA (NASDAQ:NVDA) last released 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 business had revenue of $44.06 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. On average, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is presently 1.29%.

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.