Barnes Pettey Financial Advisors LLC Sells 3,766 Shares of NVIDIA Corporation $NVDA

Key Points

• Barnes Pettey Financial Advisors reduced its NVIDIA stake by 15.1% in the first quarter, selling 3,766 shares and leaving it with 21,188 shares valued at about $3.7 million.
• Wall Street remains bullish on NVIDIA, with an average price target of $303.84 and 51 analysts rating the stock Buy or Strong Buy.
• NVIDIA continues to show strong fundamentals, reporting better-than-expected earnings and revenue last quarter, while also raising its quarterly dividend and authorizing an $80 billion share buyback.

Barnes Pettey Financial Advisors LLC trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 15.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,188 shares of the computer hardware maker's stock after selling 3,766 shares during the period. NVIDIA accounts for approximately 1.6% of Barnes Pettey Financial Advisors LLC's investment portfolio, making the stock its 14th biggest position. Barnes Pettey Financial Advisors LLC's holdings in NVIDIA were worth $3,695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lifetime Wealth Management P.C. acquired a new position in NVIDIA during the fourth quarter worth approximately $26,000. Longview Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $27,000. Longfellow Investment Management Co. LLC boosted its stake in shares of NVIDIA by 47.9% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker's stock worth $33,000 after acquiring an additional 67 shares during the period. Spurstone Advisory Services LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $40,000. Finally, Inspire Investing LLC acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $44,000. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. BNP Paribas Exane increased their price target on NVIDIA from $270.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, May 21st. Mizuho set a $300.00 price objective on shares of NVIDIA in a report on Thursday, May 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $350.00 price objective on shares of NVIDIA in a research report on Thursday, May 21st. Melius Research set a $400.00 target price on shares of NVIDIA in a research note on Thursday, May 21st. Finally, China Renaissance started coverage on shares of NVIDIA in a report on Friday, June 5th. They set a "buy" rating and a $319.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $303.84.

NVIDIA Stock Up 4.0%

NVDA stock opened at $210.96 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 2.85. The stock has a market capitalization of $5.11 trillion, a price-to-earnings ratio of 32.31, a PEG ratio of 0.45 and a beta of 2.21. The business's fifty day moving average price is $209.48 and its two-hundred day moving average price is $194.42. NVIDIA Corporation has a fifty-two week low of $162.02 and a fifty-two week high of $236.54.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The company had revenue of $81.61 billion during the quarter, compared to analysts' expectations of $78.42 billion. During the same quarter in the previous year, the business posted $0.81 earnings per share. NVIDIA's quarterly revenue was up 85.2% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Corporation will post 8.79 earnings per share for the current year.

NVIDIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Thursday, June 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. This is an increase from NVIDIA's previous quarterly dividend of $0.01. NVIDIA's payout ratio is presently 15.31%.

NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 20th that authorizes the company to repurchase $80.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Key NVIDIA News

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: Analysts and commentators said NVDA’s lower valuation and dominant position in AI spending could make recent weakness a buying opportunity, with Bank of America and others highlighting strong long-term upside.
• Positive Sentiment: Reuters reported that Nvidia supplier King Yuan Electronics plans to invest up to $1.4 billion in a U.S. facility, reinforcing the scale of the AI hardware supply chain and ongoing buildout around NVIDIA. Article Title
• Positive Sentiment: NVIDIA also announced a partnership with Fervo to launch an EGS-Twin geothermal platform, adding another AI-related ecosystem collaboration that investors may view as supportive of future growth. Article Title
• Positive Sentiment: Coverage around Nvidia’s strong Q1 results and the company’s upbeat revenue guidance near $91 billion for the next quarter continues to underline that AI demand is still running hot.
• Neutral Sentiment: Media and trading activity around NVDA remains elevated, including options-flow commentary, “most watched” stock chatter, and repeated articles on its AI leadership, which can keep the shares volatile but do not change fundamentals on their own.
• Negative Sentiment: Some reports noted pressure from customers and competitors building in-house AI chips, and there was also discussion of a possible delay to NVIDIA’s next-gen Kyber rack-scale architecture, both of which could raise investor concerns about future margins and timing.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 885,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $210.17, for a total value of $186,000,450.00. Following the completion of the sale, the director directly owned 5,207,271 shares in the company, valued at approximately $1,094,412,146.07. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen C. Neal sold 15,500 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total value of $3,343,815.00. Following the completion of the sale, the director owned 116,135 shares of the company's stock, valued at approximately $25,053,803.55. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,901,125 shares of company stock valued at $410,583,015 in the last quarter. Company insiders own 3.94% of the company's stock.

NVIDIA Company Profile

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.