Prosperity Consulting Group LLC Raises Holdings in NVIDIA Corporation $NVDA

Prosperity Consulting Group LLC lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,124 shares of the computer hardware maker’s stock after buying an additional 2,397 shares during the period. NVIDIA comprises 1.1% of Prosperity Consulting Group LLC’s investment portfolio, making the stock its 15th biggest holding. Prosperity Consulting Group LLC’s holdings in NVIDIA were worth $14,103,000 as of its most recent SEC filing.

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

NVIDIA Price Performance

Shares of NVIDIA stock opened at $181.77 on Wednesday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48. The stock has a market capitalization of $4.44 trillion, a P/E ratio of 58.64, a PEG ratio of 1.57 and a beta of 2.14. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $168.81 and its 200 day moving average price is $138.11.

NVIDIA (NASDAQ:NVDAGet Free Report) 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 net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 EPS. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly 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 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 over the last ninety days. 4.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research analyst reports. Arete Research raised NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Rosenblatt Securities raised their price target on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Wells Fargo & Company raised their price target on NVIDIA from $185.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Piper Sandler set a $225.00 price target on NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Finally, Wedbush raised their price target on NVIDIA from $175.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.31.

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NVIDIA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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