Stewardship Advisors LLC has significantly increased its investment in NVIDIA Corporation (NASDAQ:NVDA) by 17.5% during the first quarter, as revealed in their latest filing with the Securities and Exchange Commission (SEC). The investment firm now holds 9,103 shares of the leading computer hardware manufacturer, following the purchase of an additional 1,353 shares. As of the most recent SEC filing, Stewardship Advisors LLC’s holdings in NVIDIA are valued at approximately $987,000.
This move comes as a number of other institutional investors and hedge funds have also been actively trading NVIDIA shares. Notably, Norges Bank acquired a new position in NVIDIA during the fourth quarter, valued at an impressive $43.5 billion. Similarly, GAMMA Investing LLC increased its stake by a staggering 12,173.2% in the first quarter, now owning 48,837,781 shares worth over $5.29 billion.
Institutional Investors Show Confidence
The increased activity among institutional investors highlights a growing confidence in NVIDIA’s market potential. Northern Trust Corp and Proficio Capital Partners LLC also expanded their stakes significantly, with Northern Trust Corp now holding 266,454,194 shares, reflecting a 15.8% increase, and Proficio Capital Partners LLC increasing their holdings by 14,641.2%.
Assenagon Asset Management S.A. also made a notable move by lifting its stake by 204.6% in the first quarter. These transactions underscore the robust interest and belief in NVIDIA’s growth trajectory among major financial players. Currently, institutional investors own approximately 65.27% of NVIDIA’s stock.
Insider Trading and Stock Performance
In recent insider trading activities, Director A Brooke Seawell sold 51,740 shares on July 1st, at an average price of $154.62, totaling $8 million. Following this transaction, Seawell’s ownership decreased by 3.18%, leaving him with 1,576,709 shares valued at over $243 million. Similarly, CEO Jen Hsun Huang sold 75,000 shares on June 30th, reducing his stake by 0.10%.
NVIDIA’s stock opened at $153.30 on Wednesday, maintaining a strong position between its fifty-two week low of $86.62 and high of $158.71. The company boasts a market capitalization of $3.74 trillion, with a price-to-earnings ratio of 49.45, and a beta of 2.13, indicating significant market volatility.
Financial Performance and Analyst Ratings
Despite missing analysts’ earnings per share (EPS) estimates by $0.06 in its latest quarterly report, NVIDIA reported a substantial revenue increase of 69.2% year-over-year, with total revenues reaching $44.06 billion. The company maintains a net margin of 51.69% and an impressive return on equity of 105.09%.
NVIDIA has also announced a quarterly dividend of $0.01 per share, payable on July 3rd, with a yield of 0.03%. The dividend payout ratio currently stands at 1.29%.
Analysts remain optimistic, with William Blair and Citigroup maintaining strong ratings. Citigroup recently raised its target price from $150.00 to $180.00, while Barclays increased its target from $170.00 to $200.00. The consensus among analysts is a “Moderate Buy” with a target price of $175.78.
Looking Ahead: NVIDIA’s Strategic Position
NVIDIA continues to be a dominant player in the graphics and computing solutions market, providing cutting-edge technology across various sectors including gaming, enterprise graphics, and automotive platforms. As the company expands its footprint in the metaverse and 3D internet applications, its strategic investments and innovations are expected to drive further growth.
The ongoing interest from institutional investors and the positive outlook from analysts suggest a promising future for NVIDIA. As the tech industry evolves, NVIDIA’s role in shaping the future of computing and graphics technology remains pivotal.