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

Novare Capital Management LLC lifted its position in NVIDIA Corporation (NASDAQ:NVDA) by 9.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 184,392 shares of the computer hardware maker’s stock after purchasing an additional 15,335 shares during the period. NVIDIA accounts for about 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. Wealth Group Ltd. boosted its stake in shares of NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick acquired a new position in NVIDIA during the 4th quarter valued at about $972,000. Brighton Jones LLC raised its position in shares of NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after purchasing an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of NVIDIA by 1.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock worth $315,100,000 after buying an additional 22,929 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its stake in NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock valued at $7,842,000 after purchasing an additional 3,653 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research reports. Barclays boosted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Oppenheimer boosted their target price on shares of NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. The Goldman Sachs Group assumed coverage on NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective for the company. Rosenblatt Securities upped their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Finally, DA Davidson upped their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.03.

Insider Activity

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares of the company’s stock, valued at $283,565,212.88. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,264,800 shares of company stock valued at $786,735,503 in the last three months. 4.17% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $179.27 on Thursday. The stock has a 50 day moving average of $153.55 and a two-hundred day moving average of $131.72. The stock has a market cap 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. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $179.89. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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 company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the firm earned $0.61 EPS. The business’s revenue was up 69.2% on a year-over-year basis. On average, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.29%.

NVIDIA 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.