Aaron Wealth Advisors LLC Decreases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Aaron Wealth Advisors LLC decreased its holdings in NVIDIA Corporation by 26.8% in the 1st quarter, now owning 140,015 shares worth approximately $15.18 million.
• Insiders have been selling shares, with CFO Colette Kress selling 27,650 shares and Director A Brooke Seawell selling 48,792 shares recently.
• NVIDIA recently declared a quarterly dividend of $0.01 per share, resulting in an annualized dividend yield of 0.02%.

Aaron Wealth Advisors LLC cut its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 26.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,015 shares of the computer hardware maker's stock after selling 51,169 shares during the period. NVIDIA makes up 1.7% of Aaron Wealth Advisors LLC's holdings, making the stock its 11th largest position. Aaron Wealth Advisors LLC's holdings in NVIDIA were worth $15,175,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Condor Capital Management increased its holdings in shares of NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares in the last quarter. Kelly Financial Services LLC grew its position in NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after buying an additional 94 shares during the period. Foundry Financial Group Inc. increased its holdings in NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after buying an additional 96 shares in the last quarter. Mendel Capital Management LLC raised its position in shares of NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after acquiring an additional 96 shares during the period. Finally, Wallace Hart LLC boosted its stake in shares of NVIDIA by 3.9% during the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after acquiring an additional 97 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,264,800 shares of company stock valued at $786,735,503 over the last three months. 4.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Thursday, April 3rd. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Finally, Jefferies Financial Group boosted their target price on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $182.03.

NVIDIA Trading Up 2.1%

Shares of NASDAQ NVDA traded up $3.76 during mid-day trading on Wednesday, reaching $179.27. 170,353,567 shares of the company's stock were exchanged, compared to its average volume of 149,383,152. The company's 50-day moving average is $153.55 and its 200-day moving average is $131.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market capitalization of $4.37 trillion, a price-to-earnings ratio of 57.83, a PEG ratio of 1.55 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $179.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

NVIDIA Company 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.