NORTHSTAR ASSET MANAGEMENT Co LLC Purchases 490 Shares of NVIDIA Corporation (NASDAQ:NVDA)

NORTHSTAR ASSET MANAGEMENT Co LLC grew its position in NVIDIA Corporation (NASDAQ:NVDA) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,040 shares of the computer hardware maker’s stock after acquiring an additional 490 shares during the quarter. NVIDIA accounts for 1.2% of NORTHSTAR ASSET MANAGEMENT Co LLC’s portfolio, making the stock its 16th biggest holding. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in NVIDIA were worth $5,098,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Tacita Capital Inc bought a new stake in NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of NVIDIA in the 1st quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of NVIDIA by 198.2% in the 1st 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. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 2.1%

Shares of NASDAQ:NVDA opened at $179.27 on Thursday. The business’s 50-day moving average is $153.55 and its 200 day moving average is $131.72. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $179.89. The firm has a market capitalization of $4.37 trillion, a P/E ratio of 57.83, a P/E/G ratio of 1.55 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 69.2% on a year-over-year basis. On average, research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm 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. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Needham & Company LLC lifted their target price on NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Oppenheimer lifted their target price on NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Morgan Stanley boosted their price objective on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Benchmark restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $182.03.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,264,800 shares of company stock valued at $786,735,503. 4.17% of the stock is currently owned by corporate 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.