Financial Management Network Inc. Grows Position in NVIDIA Corporation $NVDA

Financial Management Network Inc. increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,821 shares of the computer hardware maker’s stock after purchasing an additional 537 shares during the quarter. NVIDIA accounts for approximately 1.4% of Financial Management Network Inc.’s investment portfolio, making the stock its 15th largest holding. Financial Management Network Inc.’s holdings in NVIDIA were worth $6,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth about $43,515,504,000. GAMMA Investing LLC lifted its holdings in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the period. Northern Trust Corp lifted its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of NVIDIA during the fourth quarter worth about $2,987,733,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NVDA. Bank of America lifted their target price on NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. The Goldman Sachs Group initiated coverage on NVIDIA in a report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price target for the company. UBS Group boosted their price target on NVIDIA from $175.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Benchmark reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Finally, Needham & Company LLC boosted their price objective on NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $194.31.

NVIDIA Stock Down 0.1%

Shares of NVDA opened at $181.60 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The stock has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 58.58, a PEG ratio of 1.59 and a beta of 2.14. The stock has a 50 day moving average price of $169.53 and a 200 day moving average price of $138.41.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%.The firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s payout ratio is 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $179.76, for a total transaction of $13,482,000.00. Following the transaction, the chief executive officer owned 72,848,225 shares of the company’s stock, valued at approximately $13,095,196,926. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.06, for a total value of $4,921,578.40. Following the transaction, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,912,440 shares of company stock valued at $902,886,782 over the last quarter. 4.17% of the stock is owned by company insiders.

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.