Beach Investment Counsel Inc. PA Lowers Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Beach Investment Counsel Inc. PA cut its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 55.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,272 shares of the computer hardware maker's stock after selling 16,553 shares during the quarter. Beach Investment Counsel Inc. PA's holdings in NVIDIA were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Hickory Point Bank & Trust purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $2,272,000. BTC Capital Management Inc. lifted its position in NVIDIA by 2.3% in the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock valued at $35,785,000 after acquiring an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP lifted its holdings in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Waddell & Associates LLC lifted its stake in NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock valued at $3,240,000 after buying an additional 297 shares during the last quarter. Finally, Strategy Asset Managers LLC lifted its stake in NVIDIA by 0.8% in the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock valued at $7,024,000 after buying an additional 405 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 1.1%

Shares of NVDA stock opened at $143.83 on Friday. The stock has a market cap of $3.51 trillion, a price-to-earnings ratio of 46.40, a price-to-earnings-growth ratio of 1.28 and a beta of 2.12. 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 Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The firm's 50 day moving average price is $126.37 and its two-hundred day moving average price is $126.69.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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 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 company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 EPS. On average, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director now directly owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the sale, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,469,685 shares of company stock valued at $349,669,962 over the last ninety days. Corporate insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James Financial boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a report on Wednesday, March 19th. Arete Research raised NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Finally, Mizuho increased their price objective on NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $173.05.

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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