Market Street Wealth Management Advisors LLC boosted its stake in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 9.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,677 shares of the computer hardware maker’s stock after acquiring an additional 1,297 shares during the quarter. Market Street Wealth Management Advisors LLC’s holdings in NVIDIA were worth $2,477,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. grew its stake in NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after acquiring an additional 254 shares during the period. Copia Wealth Management acquired a new stake in NVIDIA in the 4th quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in NVIDIA in the 1st quarter valued at $51,000. Bruce G. Allen Investments LLC grew its stake in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares during the period. Finally, Campbell Capital Management Inc. boosted its stake in NVIDIA by 5,900.0% during the 1st quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker’s stock worth $65,000 after purchasing an additional 590 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.
NVIDIA Trading Up 0.2%
Shares of NVDA stock opened at $176.67 on Monday. The stock has a market capitalization of $4.29 trillion, a P/E ratio of 50.33, a price-to-earnings-growth ratio of 1.28 and a beta of 2.10. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.60 and a current ratio of 4.21. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The company has a 50 day moving average price of $175.73 and a 200 day moving average price of $143.85.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 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 1.14%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of NVIDIA from $185.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. Wall Street Zen raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. KeyCorp reaffirmed an “overweight” rating and set a $230.00 target price (up previously from $215.00) on shares of NVIDIA in a research note on Thursday, August 28th. Bank of America lifted their target price on shares of NVIDIA from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $208.47.
Get Our Latest Stock Report on NVDA
Insider Activity
In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.42, for a total value of $13,231,500.00. Following the sale, the chief executive officer directly owned 71,683,203 shares of the company’s stock, valued at approximately $12,646,350,673.26. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 297,797 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $178.19, for a total transaction of $53,064,447.43. Following the completion of the sale, the director directly owned 7,749,803 shares in the company, valued at approximately $1,380,937,396.57. This represents a 3.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,914,341 shares of company stock valued at $662,228,310. 4.17% of the stock is currently owned by company insiders.
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.
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