Tuttle Capital Management LLC Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

Tuttle Capital Management LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDAGet Rating) during the first quarter, according to its most recent filing with the SEC. The firm purchased 924 shares of the computer hardware maker’s stock, valued at approximately $252,000.

A number of other hedge funds have also modified their holdings of the company. Traynor Capital Management Inc. raised its holdings in NVIDIA by 1.2% during the 4th quarter. Traynor Capital Management Inc. now owns 259,605 shares of the computer hardware maker’s stock worth $76,352,000 after buying an additional 3,138 shares during the period. TIAA FSB raised its holdings in NVIDIA by 7.9% during the 4th quarter. TIAA FSB now owns 126,522 shares of the computer hardware maker’s stock worth $37,053,000 after buying an additional 9,259 shares during the period. Mitchell Sinkler & Starr PA raised its holdings in NVIDIA by 7.4% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 4,411 shares of the computer hardware maker’s stock worth $1,297,000 after buying an additional 305 shares during the period. Calamos Wealth Management LLC grew its stake in shares of NVIDIA by 15.8% during the 4th quarter. Calamos Wealth Management LLC now owns 89,107 shares of the computer hardware maker’s stock worth $26,207,000 after acquiring an additional 12,125 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of NVIDIA by 22.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,005,482 shares of the computer hardware maker’s stock worth $295,722,000 after acquiring an additional 182,223 shares in the last quarter. 55.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NVDA shares. Piper Sandler decreased their price target on shares of NVIDIA from $250.00 to $235.00 and set an “overweight” rating for the company in a research note on Monday, July 11th. UBS Group decreased their price target on shares of NVIDIA from $350.00 to $280.00 and set a “buy” rating for the company in a research note on Monday, May 23rd. Citigroup decreased their price target on shares of NVIDIA from $315.00 to $285.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Credit Suisse Group decreased their target price on shares of NVIDIA to $205.00 in a research note on Thursday, May 26th. Finally, Wells Fargo & Company decreased their target price on shares of NVIDIA from $370.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $252.24.

NVIDIA Stock Up 0.5 %

NVDA stock opened at $185.26 on Wednesday. The company has a market cap of $463.15 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 2.79 and a beta of 1.65. The business has a 50-day simple moving average of $168.49 and a 200 day simple moving average of $206.78. NVIDIA Co. has a 52 week low of $140.55 and a 52 week high of $346.47. The company has a quick ratio of 4.75, a current ratio of 5.32 and a debt-to-equity ratio of 0.42.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its quarterly earnings results on Wednesday, May 25th. The computer hardware maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.09 billion. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. NVIDIA’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 4.48 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Thursday, June 9th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Wednesday, June 8th. NVIDIA’s dividend payout ratio is presently 4.29%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Debora Shoquist sold 23,644 shares of NVIDIA stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $188.23, for a total value of $4,450,510.12. Following the transaction, the executive vice president now owns 186,476 shares in the company, valued at $35,100,377.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 113,850 shares of NVIDIA stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $158.03, for a total value of $17,991,715.50. Following the transaction, the director now owns 2,596,493 shares in the company, valued at $410,323,788.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Debora Shoquist sold 23,644 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $188.23, for a total value of $4,450,510.12. Following the sale, the executive vice president now owns 186,476 shares in the company, valued at $35,100,377.48. The disclosure for this sale can be found here. Insiders have sold a total of 139,694 shares of company stock worth $22,850,524 over the last 90 days. Insiders own 4.04% of the company’s stock.

NVIDIA Company Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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