Adero Partners LLC Sells 3,965 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Adero Partners LLC trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,619 shares of the computer hardware maker's stock after selling 3,965 shares during the period. NVIDIA comprises approximately 1.8% of Adero Partners LLC's investment portfolio, making the stock its 13th biggest position. Adero Partners LLC's holdings in NVIDIA were worth $27,270,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the 4th quarter worth about $38,000. Copia Wealth Management acquired a new stake in NVIDIA during the 4th quarter worth about $50,000. Bruce G. Allen Investments LLC raised its position in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares in the last quarter. Finally, LSV Asset Management acquired a new position in shares of NVIDIA in the 4th quarter valued at about $54,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $157.25 on Thursday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $158.71. The company's 50 day moving average price is $134.36 and its two-hundred day moving average price is $127.45. The stock has a market cap of $3.84 trillion, a P/E ratio of 50.73, a P/E/G ratio of 1.36 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

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

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVDA. Mizuho raised their target price on NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a report on Wednesday, March 19th. Citigroup reaffirmed a "buy" rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Finally, HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $175.78.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $157.53, for a total value of $11,814,750.00. Following the transaction, the chief executive officer directly owned 75,323,225 shares in the company, valued at $11,865,667,634.25. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Brooke Seawell sold 51,740 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the transaction, the director directly owned 1,576,709 shares of the company's stock, valued at $243,790,745.58. This represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,044,919 shares of company stock worth $584,414,209 in the last ninety days. Company insiders own 4.17% of the company's stock.

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.

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