24,648 Shares in NVIDIA Corporation $NVDA Bought by Flatrock Wealth Partners LLC

Flatrock Wealth Partners LLC acquired a new stake in NVIDIA Corporation (NASDAQ:NVDAFree Report) in the first quarter, Holdings Channel reports. The firm acquired 24,648 shares of the computer hardware maker’s stock, valued at approximately $4,299,000. NVIDIA accounts for 1.9% of Flatrock Wealth Partners LLC’s holdings, making the stock its 13th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Enterprises LLC increased its holdings in NVIDIA by 44.2% during the 4th quarter. Diversified Enterprises LLC now owns 127,604 shares of the computer hardware maker’s stock worth $23,798,000 after purchasing an additional 39,129 shares in the last quarter. ASR Vermogensbeheer N.V. boosted its position in shares of NVIDIA by 1.8% during the fourth quarter. ASR Vermogensbeheer N.V. now owns 3,169,377 shares of the computer hardware maker’s stock valued at $591,086,000 after buying an additional 54,877 shares during the last quarter. PMG Family Office LLC bought a new stake in NVIDIA during the third quarter worth $2,150,000. Storen Legacy Partners LLC purchased a new stake in NVIDIA in the 4th quarter valued at $1,350,000. Finally, Weaver Capital Management LLC lifted its stake in NVIDIA by 5.5% during the 4th quarter. Weaver Capital Management LLC now owns 85,216 shares of the computer hardware maker’s stock valued at $15,893,000 after acquiring an additional 4,439 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $202.81 on Friday. The company has a market capitalization of $4.91 trillion, a P/E ratio of 31.06, a P/E/G ratio of 0.46 and a beta of 2.21. The business has a fifty day simple moving average of $209.63 and a two-hundred day simple moving average of $195.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 2.85. NVIDIA Corporation has a 1 year low of $164.07 and a 1 year high of $236.54.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. The firm had revenue of $81.61 billion for the quarter, compared to analysts’ expectations of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The business’s revenue for the quarter was up 85.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. On average, analysts expect that NVIDIA Corporation will post 8.81 earnings per share for the current year.

NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 20th that authorizes the company to repurchase $80.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Thursday, June 4th were given a dividend of $0.25 per share. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, June 4th. NVIDIA’s dividend payout ratio (DPR) is 15.31%.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 885,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $210.17, for a total transaction of $186,000,450.00. Following the sale, the director directly owned 5,207,271 shares in the company, valued at approximately $1,094,412,146.07. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen C. Neal sold 15,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the completion of the transaction, the director directly owned 116,135 shares of the company’s stock, valued at approximately $25,053,803.55. This trade represents a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,901,125 shares of company stock worth $410,583,015 over the last quarter. 3.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. HSBC reiterated a “buy” rating and issued a $325.00 target price (up from $295.00) on shares of NVIDIA in a report on Tuesday, May 19th. Truist Financial boosted their target price on NVIDIA from $287.00 to $307.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. BNP Paribas Exane increased their price target on NVIDIA from $270.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. DA Davidson reissued a “buy” rating and issued a $300.00 price objective on shares of NVIDIA in a research report on Monday, June 1st. Finally, Daiwa Securities Group raised their target price on NVIDIA from $215.00 to $255.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $304.26.

Read Our Latest Analysis on NVIDIA

NVIDIA News Summary

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NVIDIA Profile

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

See Also

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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