Envestnet Asset Management Inc. Purchases 485,941 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Envestnet Asset Management Inc. boosted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,994,899 shares of the computer hardware maker's stock after purchasing an additional 485,941 shares during the period. NVIDIA comprises approximately 0.7% of Envestnet Asset Management Inc.'s investment portfolio, making the stock its 21st biggest position. Envestnet Asset Management Inc. owned 0.09% of NVIDIA worth $2,275,427,000 at the end of the most recent quarter.

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A number of other large investors have also recently modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the fourth quarter valued at approximately $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA during the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA during the first quarter worth $51,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after acquiring an additional 327 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,339,800 shares of company stock worth $800,141,003 over the last 90 days. Company insiders own 4.17% of the company's stock.

Analyst Ratings Changes

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NVDA has been the topic of a number of research reports. Wedbush restated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Piper Sandler restated an "overweight" rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Citigroup upped their price objective on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Oppenheimer lifted their target price on shares of NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Needham & Company LLC upped their price target on shares of NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $182.03.

Get Our Latest Research Report on NVIDIA

NVIDIA Stock Down 0.8%

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NVIDIA stock opened at $177.87 on Friday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30. 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's 50-day simple moving average is $154.45 and its 200 day simple moving average is $132.03. The stock has a market cap of $4.34 trillion, a PE ratio of 57.38, a price-to-earnings-growth ratio of 1.58 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its 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). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 EPS. Research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.

About NVIDIA

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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