Front Row Advisors LLC Has $43.89 Million Stake in NVIDIA Corporation $NVDA

Front Row Advisors LLC trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,762 shares of the computer hardware maker’s stock after selling 6,428 shares during the quarter. NVIDIA accounts for 15.3% of Front Row Advisors LLC’s portfolio, making the stock its largest position. Front Row Advisors LLC’s holdings in NVIDIA were worth $43,886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new position in NVIDIA in the second quarter valued at about $28,000. Winnow Wealth LLC bought a new position in shares of NVIDIA during the 2nd quarter valued at about $32,000. Longfellow Investment Management Co. LLC increased its stake in NVIDIA by 47.9% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. Spurstone Advisory Services LLC bought a new stake in NVIDIA during the 2nd quarter worth approximately $40,000. Finally, EDENTREE ASSET MANAGEMENT Ltd acquired a new stake in NVIDIA during the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $175.02 on Friday. The business’s 50-day simple moving average is $186.69 and its 200 day simple moving average is $173.81. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $212.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. The firm has a market capitalization of $4.25 trillion, a PE ratio of 43.43, a PEG ratio of 0.86 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The firm had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 62.5% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s dividend payout ratio is 0.99%.

Insider Activity

In related news, CFO Colette Kress sold 30,500 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $178.11, for a total value of $5,432,355.00. Following the completion of the sale, the chief financial officer directly owned 1,286,826 shares in the company, valued at approximately $229,196,578.86. This trade represents a 2.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 12,728 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $183.93, for a total value of $2,341,061.04. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,829,474 shares of company stock valued at $512,805,367. 4.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Susquehanna upped their price target on shares of NVIDIA from $230.00 to $250.00 and gave the company a “positive” rating in a report on Thursday, November 20th. Hsbc Global Res raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Barclays lifted their price target on NVIDIA from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of NVIDIA in a research report on Thursday, November 20th. Finally, KeyCorp increased their price objective on NVIDIA from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $258.65.

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.