Tulsa Wealth Advisors INC Takes Position in NVIDIA Corporation $NVDA

Tulsa Wealth Advisors INC bought a new stake in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 33,688 shares of the computer hardware maker’s stock, valued at approximately $6,283,000. NVIDIA comprises about 2.1% of Tulsa Wealth Advisors INC’s investment portfolio, making the stock its 15th largest holding.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of NVIDIA by 1.2% in the fourth quarter. State Street Corp now owns 991,480,489 shares of the computer hardware maker’s stock worth $184,911,111,000 after buying an additional 11,451,386 shares during the period. Geode Capital Management LLC boosted its holdings in NVIDIA by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 588,803,093 shares of the computer hardware maker’s stock valued at $109,446,217,000 after acquiring an additional 3,383,441 shares during the period. Norges Bank purchased a new stake in NVIDIA during the 4th quarter valued at about $62,244,133,000. Bank of America Corp DE grew its position in NVIDIA by 1.5% during the 4th quarter. Bank of America Corp DE now owns 187,181,484 shares of the computer hardware maker’s stock worth $34,909,347,000 after acquiring an additional 2,849,678 shares during the last quarter. Finally, Legal & General Group Plc grew its position in NVIDIA by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker’s stock worth $33,808,862,000 after acquiring an additional 2,609,560 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $210.69 on Monday. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $5.10 trillion, a P/E ratio of 32.26, a P/E/G ratio of 0.47 and a beta of 2.22. The business has a fifty day simple moving average of $209.90 and a two-hundred day simple moving average of $192.47. NVIDIA Corporation has a 12 month low of $142.03 and a 12 month high of $236.54.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its 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 net margin of 62.97% and a return on equity of 96.94%. The company’s quarterly revenue was up 85.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 EPS. On average, equities analysts forecast that NVIDIA Corporation will post 8.65 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a stock buyback program on Wednesday, May 20th that authorizes the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Thursday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 4th. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. This represents a $1.00 annualized dividend and a yield of 0.5%. NVIDIA’s payout ratio is presently 15.31%.

NVIDIA News Summary

Here are the key news stories impacting NVIDIA this week:

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 500,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $219.83, for a total transaction of $109,915,000.00. Following the completion of the transaction, the director directly owned 6,399,771 shares in the company, valued at approximately $1,406,861,658.93. This trade represents a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen C. Neal sold 15,500 shares of the business’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 value of $3,343,815.00. Following the completion of the sale, the director directly owned 116,135 shares in the company, valued at approximately $25,053,803.55. This represents a 11.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,016,125 shares of company stock worth $224,582,565. 3.94% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Craig Hallum boosted their price objective on NVIDIA from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Tigress Financial restated a “strong-buy” rating and issued a $425.00 target price (up from $360.00) on shares of NVIDIA in a report on Wednesday, May 27th. Wolfe Research reaffirmed an “outperform” rating and issued a $275.00 target price on shares of NVIDIA in a research note on Thursday, May 21st. Mizuho set a $300.00 price target on shares of NVIDIA in a report on Thursday, May 21st. Finally, Morgan Stanley set a $288.00 price target on shares of NVIDIA and gave the company an “overweight” rating in a report on Thursday, May 21st. Three equities research analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $305.67.

Check Out Our Latest Report on NVIDIA

About NVIDIA

(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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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