Arrow Financial Corp Trims Stock Holdings in NVIDIA Corporation $NVDA

Key Points

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Arrow Financial Corp decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 43.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,378 shares of the computer hardware maker's stock after selling 77,859 shares during the period. NVIDIA accounts for about 1.3% of Arrow Financial Corp's holdings, making the stock its 22nd biggest position. Arrow Financial Corp's holdings in NVIDIA were worth $11,204,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NVDA. Copia Wealth Management purchased a new position in shares of NVIDIA in the fourth quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of NVIDIA in the first quarter worth about $51,000. Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares in the last quarter. LSV Asset Management purchased a new position in shares of NVIDIA in the fourth quarter worth about $54,000. Finally, Delos Wealth Advisors LLC increased its stake in shares of NVIDIA by 134.8% in the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock worth $66,000 after purchasing an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent analyst reports. Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. TD Cowen boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Finally, Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have assigned 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 $187.61.

NVIDIA Stock Up 0.9%

Shares of NASDAQ NVDA opened at $182.01 on Tuesday. 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 12 month low of $86.62 and a 12 month high of $184.48. The firm has a market capitalization of $4.44 trillion, a PE ratio of 58.71, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The firm has a fifty day simple moving average of $164.75 and a two-hundred day simple moving average of $135.95.

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

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company's 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 completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,912,440 shares of company stock valued at $902,886,782 over the last quarter. 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.

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