Wallace Advisory Group LLC Buys 1,690 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wallace Advisory Group LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 17.2% in the 1st quarter, Holdings Channel reports. The firm owned 11,534 shares of the computer hardware maker’s stock after acquiring an additional 1,690 shares during the period. NVIDIA makes up 0.9% of Wallace Advisory Group LLC’s investment portfolio, making the stock its 24th largest holding. Wallace Advisory Group LLC’s holdings in NVIDIA were worth $1,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DiNuzzo Private Wealth Inc. increased its holdings in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after purchasing an additional 71 shares in the last quarter. Baker Boyer National Bank boosted its position in NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after buying an additional 76 shares during the last quarter. SC&H Financial Advisors Inc. boosted its position in NVIDIA by 1.6% in the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock valued at $681,000 after buying an additional 80 shares during the last quarter. DecisionPoint Financial LLC boosted its position in NVIDIA by 2.9% in the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock valued at $386,000 after buying an additional 80 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC boosted its position in NVIDIA by 0.7% in the 4th quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker’s stock valued at $1,544,000 after buying an additional 84 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $142.83 on Thursday. The business’s 50 day moving average is $120.91 and its 200-day moving average is $126.34. The stock has a market cap of $3.49 trillion, a PE ratio of 56.21, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the firm posted $0.61 EPS. The business’s quarterly revenue was up 69.2% on a year-over-year basis. On average, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.29%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Barclays reissued an “overweight” rating and issued a $170.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Finally, DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $172.24.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 190,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.51, for a total value of $27,076,900.00. Following the transaction, the director now owns 8,855,848 shares in the company, valued at approximately $1,262,046,898.48. The trade was a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,560,845 shares of company stock worth $360,351,849 over the last quarter. 4.17% of the stock is currently owned by company insiders.

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.