Novare Capital Management LLC Raises Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Novare Capital Management LLC increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 9.1% during the first quarter, Holdings Channel reports. The fund owned 184,392 shares of the computer hardware maker’s stock after acquiring an additional 15,335 shares during the quarter. NVIDIA makes up approximately 1.7% of Novare Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Novare Capital Management LLC’s holdings in NVIDIA were worth $19,984,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NVDA. Quattro Financial Advisors LLC acquired a new stake in shares of NVIDIA in the first quarter worth approximately $1,925,000. Simmons Bank boosted its holdings in NVIDIA by 0.3% in the 1st quarter. Simmons Bank now owns 335,729 shares of the computer hardware maker’s stock worth $36,386,000 after acquiring an additional 908 shares during the period. HM Payson & Co. boosted its stake in shares of NVIDIA by 0.9% in the first quarter. HM Payson & Co. now owns 1,569,658 shares of the computer hardware maker’s stock valued at $170,120,000 after purchasing an additional 14,092 shares during the period. Macroview Investment Management LLC grew its stake in shares of NVIDIA by 6.8% during the first quarter. Macroview Investment Management LLC now owns 3,667 shares of the computer hardware maker’s stock valued at $397,000 after acquiring an additional 233 shares in the last quarter. Finally, Seascape Capital Management grew its stake in NVIDIA by 4.2% during the 1st quarter. Seascape Capital Management now owns 45,127 shares of the computer hardware maker’s stock valued at $4,891,000 after purchasing an additional 1,803 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $175.22, for a total value of $13,141,500.00. Following the transaction, the chief executive officer directly owned 73,898,225 shares in the company, valued at $12,948,446,984.50. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 27,650 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,264,800 shares of company stock worth $786,735,503. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $179.27 on Thursday. The company has a fifty day moving average price of $153.55 and a 200 day moving average price of $131.72. NVIDIA Corporation has a one year low of $86.62 and a one year high of $179.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock has a market cap of $4.37 trillion, a P/E ratio of 57.83, a PEG ratio of 1.55 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. Analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued 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 0.02%. NVIDIA’s payout ratio is presently 1.29%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Loop Capital boosted their target price on shares of NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. UBS Group reiterated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Finally, Morgan Stanley boosted their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday. 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.03.

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.