Bosman Wealth Management LLC Sells 7,870 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Bosman Wealth Management LLC has reduced its stake in NVIDIA Corporation by 11.1%, selling 7,870 shares but still maintaining approximately 6.9% of its portfolio in NVIDIA, valued at $6.8 million.
• Several institutional investors have increased their holdings in NVIDIA, with Cerity Partners LLC upping their stake by 16.5% and Arcus Capital Partners LLC by a notable 405.3% during the same quarter.
• Analysts have varied opinions on NVIDIA's stock, with thirty-three analysts giving buy ratings and a current average price target set at $182.03, reflecting a "Moderate Buy" outlook.

Bosman Wealth Management LLC cut its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,058 shares of the computer hardware maker's stock after selling 7,870 shares during the period. NVIDIA accounts for about 6.9% of Bosman Wealth Management LLC's portfolio, making the stock its 2nd largest holding. Bosman Wealth Management LLC's holdings in NVIDIA were worth $6,834,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. MJP Associates Inc. ADV lifted its holdings in NVIDIA by 1.9% in the first quarter. MJP Associates Inc. ADV now owns 96,444 shares of the computer hardware maker's stock valued at $10,453,000 after acquiring an additional 1,816 shares during the last quarter. Bernardo Wealth Planning LLC lifted its holdings in NVIDIA by 10.6% in the first quarter. Bernardo Wealth Planning LLC now owns 9,564 shares of the computer hardware maker's stock valued at $1,037,000 after acquiring an additional 918 shares during the last quarter. Cerity Partners LLC lifted its holdings in NVIDIA by 16.5% in the first quarter. Cerity Partners LLC now owns 10,806,277 shares of the computer hardware maker's stock valued at $1,166,476,000 after acquiring an additional 1,526,640 shares during the last quarter. Arcus Capital Partners LLC lifted its holdings in NVIDIA by 405.3% in the first quarter. Arcus Capital Partners LLC now owns 7,306 shares of the computer hardware maker's stock valued at $792,000 after acquiring an additional 5,860 shares during the last quarter. Finally, TRU Independence Asset Management 2 LLC acquired a new position in NVIDIA in the first quarter valued at approximately $1,010,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on NVDA. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Piper Sandler reissued an "overweight" rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Jefferies Financial Group boosted their target price on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Oppenheimer boosted their target price on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, UBS Group reissued a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and an average price target of $182.03.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $178.26 on Wednesday. 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 $183.30. The firm has a 50-day simple moving average of $157.13 and a 200 day simple moving average of $132.90. The company has a market cap of $4.35 trillion, a PE ratio of 57.50, a P/E/G ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm 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 EPS. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. On average, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid 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 dividend payout ratio is currently 1.29%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 27,650 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.16, for a total transaction of $13,362,000.00. Following the completion of the transaction, the chief executive officer owned 73,523,225 shares in the company, valued at approximately $13,098,897,766. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,489,800 shares of company stock valued at $826,553,003. 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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