NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by BOCHK Asset Management Ltd

Key Points

• BOCHK Asset Management Ltd reduced its position in NVIDIA by 72.5%, selling 174,320 shares in the 1st quarter, leaving them with 66,150 shares valued at approximately $7.17 million.
• NVIDIA insiders sold a total of 5,339,800 shares worth over $800 million in the last quarter, indicating a 4.17% ownership by insiders after these transactions.
• Recent analyst reports show mixed ratings for NVIDIA, with 33 buy ratings, 4 hold ratings, and 1 sell rating, setting a consensus target price of $182.03.

BOCHK Asset Management Ltd cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 72.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,150 shares of the computer hardware maker's stock after selling 174,320 shares during the quarter. NVIDIA accounts for approximately 4.0% of BOCHK Asset Management Ltd's holdings, making the stock its 13th biggest position. BOCHK Asset Management Ltd's holdings in NVIDIA were worth $7,169,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Wealth Group Ltd. lifted its holdings in NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after acquiring an additional 100 shares during the period. Tallon Kerry Patrick acquired a new stake in NVIDIA in the fourth quarter valued at $972,000. Brighton Jones LLC lifted its holdings in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after acquiring an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in NVIDIA by 1.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after acquiring an additional 22,929 shares during the period. Finally, Highview Capital Management LLC DE lifted its holdings in NVIDIA by 6.7% in the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock valued at $7,842,000 after acquiring an additional 3,653 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,339,800 shares of company stock valued at $800,141,003. Insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on NVDA shares. Arete Research raised NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Loop Capital lifted their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Barclays lifted their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

NVIDIA Stock Down 2.3%

NVIDIA stock traded down $4.15 during midday trading on Friday, hitting $173.72. 203,669,565 shares of the company were exchanged, compared to its average volume of 153,436,048. The company's fifty day moving average price is $155.30 and its 200-day moving average price is $132.32. The company has a market cap of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.57 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. On average, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's payout ratio 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.