WT Wealth Management Increases Stake in NVIDIA Corporation $NVDA

WT Wealth Management increased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 23.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,845 shares of the computer hardware maker’s stock after purchasing an additional 12,803 shares during the period. NVIDIA makes up about 2.4% of WT Wealth Management’s holdings, making the stock its 11th biggest holding. WT Wealth Management’s holdings in NVIDIA were worth $7,353,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Condor Capital Management increased its stake in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after purchasing an additional 89 shares in the last quarter. High Note Wealth LLC boosted its stake in NVIDIA by 0.5% during the 1st quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker’s stock valued at $1,937,000 after purchasing an additional 91 shares during the last quarter. Kelly Financial Services LLC boosted its stake in NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock valued at $513,000 after purchasing an additional 94 shares during the last quarter. Mendel Capital Management LLC boosted its stake in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock valued at $1,287,000 after purchasing an additional 96 shares during the last quarter. Finally, Affiance Financial LLC boosted its stake in NVIDIA by 0.7% during the 1st quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker’s stock valued at $1,479,000 after purchasing an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,912,440 shares of company stock worth $902,886,782 in the last three months. Insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $182.01 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a fifty day moving average price of $164.75 and a 200 day moving average price of $135.95. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The firm has a market cap of $4.44 trillion, a price-to-earnings ratio of 58.71, a P/E/G ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last issued its 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 return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on NVDA shares. Bank of America increased their target price on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Phillip Securities upgraded shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 14th. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Wedbush reissued an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, TD Cowen boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given 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 presently has a consensus rating of “Moderate Buy” and an average price target of $187.61.

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.