MainStreet Investment Advisors LLC Acquires 1,258 Shares of NVIDIA Co. (NASDAQ:NVDA)

MainStreet Investment Advisors LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 79,178 shares of the computer hardware maker’s stock after buying an additional 1,258 shares during the period. NVIDIA comprises 1.5% of MainStreet Investment Advisors LLC’s holdings, making the stock its 19th largest position. MainStreet Investment Advisors LLC’s holdings in NVIDIA were worth $10,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hickory Point Bank & Trust bought a new stake in shares of NVIDIA in the 4th quarter worth $2,272,000. Capital Performance Advisors LLP grew its stake in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after acquiring an additional 9,944 shares in the last quarter. Waddell & Associates LLC grew its stake in shares of NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after acquiring an additional 297 shares in the last quarter. Strategy Asset Managers LLC grew its stake in shares of NVIDIA by 0.8% in the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock worth $7,024,000 after acquiring an additional 405 shares in the last quarter. Finally, Ethos Financial Group LLC grew its stake in shares of NVIDIA by 24.1% in the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock worth $4,312,000 after acquiring an additional 6,241 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.5%

Shares of NVDA opened at $134.81 on Thursday. The business’s 50-day moving average price is $114.85 and its 200-day moving average price is $126.66. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The stock has a market cap of $3.30 trillion, a PE ratio of 53.05, a P/E/G ratio of 1.76 and a beta of 2.11. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 69.2% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Raymond James reiterated a “strong-buy” rating on shares of NVIDIA in a research note on Wednesday, April 16th. TD Cowen reduced their target price on shares of NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Rosenblatt Securities cut their price target on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup reissued a “buy” rating on shares of NVIDIA in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $167.53.

Insider Activity

In related news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35% 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 Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 over the last ninety days. Company insiders own 4.17% of the company’s stock.

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.