Advisor Resource Council Buys 159,887 Shares of NVIDIA Corporation (NASDAQ:NVDA)
Advisor Resource Council increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 2,983% in Q1, acquiring 159,887 shares, bringing its total to 165,247 shares valued at $17.9 million. NVIDIA represents 1.3% of the fund's portfolio. The company reported a quarterly EPS of $0.81, missing estimates, but revenue rose 69.2% year-over-year to $44.06 billion. Analysts have set price targets ranging from $170 to $250, with an average target of $176.47. NVIDIA also announced a quarterly dividend of $0.01, reflecting a 0.03% yield.
Advisor Resource Council lifted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2,983.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 165,247 shares of the computer hardware maker's stock after acquiring an additional 159,887 shares during the quarter. NVIDIA accounts for 1.3% of Advisor Resource Council's investment portfolio, making the stock its 7th largest position. Advisor Resource Council's holdings in NVIDIA were worth $17,909,000 as of its most recent filing with the SEC.
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Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA in the 4th quarter valued at $50,000. Bruce G. Allen Investments LLC raised its stake in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in NVIDIA during the 4th quarter worth $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.
NVIDIA Trading Up 1.1%
NASDAQ NVDA opened at $160.00 on Wednesday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $160.98. 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 company has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth ratio of 1.40 and a beta of 2.13. The company's fifty day moving average price is $138.39 and its two-hundred day moving average price is $128.20.
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NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results 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 return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The company's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was 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 (DPR) is presently 1.29%.
Analysts Set New Price Targets
- Insider Selling at NVIDIA Could Turn Into an Opportunity
NVDA has been the topic of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Morgan Stanley reissued an "overweight" rating and set a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Finally, Loop Capital boosted their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average price target of $176.47.
Get Our Latest Analysis on NVIDIA
Insider Activity at NVIDIA
In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,296,844 shares of company stock worth $624,019,677 in the last 90 days. Corporate insiders own 4.17% of the company's stock.
About NVIDIA
(Free Report)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.
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