Vest Financial LLC Purchases 220,688 Shares of NVIDIA Co. (NASDAQ:NVDA)

Vest Financial LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 229.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 316,661 shares of the computer hardware maker’s stock after purchasing an additional 220,688 shares during the quarter. Vest Financial LLC’s holdings in NVIDIA were worth $34,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tacita Capital Inc bought a new position in NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the fourth quarter valued at $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the fourth quarter valued at $40,000. Copia Wealth Management acquired a new stake in shares of NVIDIA in the fourth quarter valued at $50,000. Finally, LSV Asset Management acquired a new stake in shares of NVIDIA in the fourth quarter valued at $54,000. 65.27% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,560,845 shares of company stock valued at $360,351,849 in the last ninety days. 4.17% of the stock is currently owned by insiders.

NVIDIA Trading Up 1.9%

NASDAQ NVDA opened at $144.69 on Tuesday. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $153.13. The firm has a market capitalization of $3.53 trillion, a P/E ratio of 56.94, a PEG ratio of 1.76 and a beta of 2.12. The business has a fifty day simple moving average of $123.74 and a 200 day simple moving average of $126.36. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

Analyst Ratings Changes

NVDA has been the subject of several analyst reports. DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Mizuho upped their price objective on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. William Blair reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $172.24.

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.