NVIDIA Corporation (NASDAQ:NVDA) Position Boosted by Parisi Gray Wealth Management

Parisi Gray Wealth Management lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 3.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 127,834 shares of the computer hardware maker’s stock after buying an additional 4,152 shares during the quarter. NVIDIA comprises 4.5% of Parisi Gray Wealth Management’s holdings, making the stock its 5th biggest position. Parisi Gray Wealth Management’s holdings in NVIDIA were worth $13,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NVDA. Norges Bank purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC lifted its stake in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp lifted its stake in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. Proficio Capital Partners LLC raised its stake in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in NVIDIA during the fourth quarter worth approximately $2,987,733,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 125,836 shares of NVIDIA stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $137.79, for a total value of $17,338,942.44. Following the sale, the director now directly owns 10,149,697 shares in the company, valued at $1,398,526,749.63. This trade represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the sale, the director now owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,469,685 shares of company stock worth $349,669,962 in the last ninety days. 4.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial increased their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.05.

NVIDIA Trading Down 1.1%

NASDAQ NVDA opened at $143.83 on Monday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $153.13. The company has a 50-day simple moving average of $126.37 and a 200-day simple moving average of $126.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market capitalization of $3.51 trillion, a PE ratio of 46.40, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 during the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up 69.2% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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