NVIDIA Corporation (NASDAQ:NVDA) Stock Position Trimmed by 4J Wealth Management LLC

Key Points

• 4J Wealth Management LLC has reduced its position in NVIDIA Corporation by 23.5%, now holding approximately 32,436 shares valued at $3.52 million, making it the firm's 10th largest investment.
• Insiders have sold a total of 5.26 million shares of NVIDIA stock worth nearly $787 million in the past three months, indicating potential shifts in management outlook.
• Analysts are bullish on NVIDIA, with several firms raising their target prices to between $200.00 and $190.00, while maintaining a consensus rating of "Moderate Buy" for the stock.

4J Wealth Management LLC cut its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 23.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,436 shares of the computer hardware maker's stock after selling 9,970 shares during the period. NVIDIA makes up approximately 2.8% of 4J Wealth Management LLC's holdings, making the stock its 10th biggest position. 4J Wealth Management LLC's holdings in NVIDIA were worth $3,515,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. 44 Wealth Management LLC increased its position in NVIDIA by 50.5% in the 1st quarter. 44 Wealth Management LLC now owns 7,016 shares of the computer hardware maker's stock valued at $760,000 after acquiring an additional 2,353 shares in the last quarter. Spear Holdings RSC Ltd acquired a new stake in NVIDIA in the 1st quarter valued at about $15,899,000. Fisher Funds Management LTD increased its position in NVIDIA by 42.2% in the 1st quarter. Fisher Funds Management LTD now owns 398,543 shares of the computer hardware maker's stock valued at $43,194,000 after acquiring an additional 118,225 shares in the last quarter. Silver Oak Securities Incorporated increased its position in NVIDIA by 3.2% in the 1st quarter. Silver Oak Securities Incorporated now owns 118,771 shares of the computer hardware maker's stock valued at $13,026,000 after acquiring an additional 3,644 shares in the last quarter. Finally, Cohen Investment Advisors LLC increased its position in NVIDIA by 25.9% in the 1st quarter. Cohen Investment Advisors LLC now owns 17,159 shares of the computer hardware maker's stock valued at $1,860,000 after acquiring an additional 3,525 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,339,800 shares of company stock worth $800,141,003 in the last 90 days. 4.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NVDA. Jefferies Financial Group lifted their price target on shares of NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Piper Sandler reiterated an "overweight" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Morgan Stanley lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Barclays lifted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $182.03.

NVIDIA Price Performance

NVDA traded down $4.15 on Friday, hitting $173.72. 203,669,565 shares of the company's stock traded hands, compared to its average volume of 248,821,531. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a P/E/G ratio of 1.58 and a beta of 2.13. The company's 50 day simple moving average is $154.45 and its 200-day simple moving average is $132.03. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA's payout ratio is presently 1.29%.

NVIDIA Profile

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.