Bridges Investment Management Inc. Sells 18,001 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Bridges Investment Management Inc. sold 18,001 shares of NVIDIA, reducing its stake by 1.1% to a total of 1,556,480 shares, worth approximately $168.69 million, making NVIDIA its 8th largest investment.
• NVIDIA reported a quarterly EPS of $0.81, missing expectations by $0.06, despite a revenue increase of 69.2% year-over-year, totaling $44.06 billion.
• CEO Jens Hsun Huang sold 75,000 shares of NVIDIA stock for over $13 million, reflecting a 0.10% decrease in his ownership position.

Bridges Investment Management Inc. lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,556,480 shares of the computer hardware maker's stock after selling 18,001 shares during the quarter. NVIDIA makes up approximately 2.4% of Bridges Investment Management Inc.'s investment portfolio, making the stock its 8th largest position. Bridges Investment Management Inc.'s holdings in NVIDIA were worth $168,691,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NVDA. Condor Capital Management lifted its stake in NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after purchasing an additional 89 shares during the last quarter. Kelly Financial Services LLC lifted its stake in NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after purchasing an additional 94 shares during the last quarter. Foundry Financial Group Inc. lifted its stake in NVIDIA by 2.2% during the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock worth $589,000 after purchasing an additional 96 shares during the last quarter. Mendel Capital Management LLC increased its holdings in shares of NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after buying an additional 96 shares in the last quarter. Finally, Wallace Hart LLC increased its holdings in shares of NVIDIA by 3.9% during the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Trading Down 2.3%

NASDAQ:NVDA opened at $173.72 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 1.53 and a beta of 2.14. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The firm has a 50-day moving average price of $155.30 and a two-hundred day moving average price of $132.28.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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). The firm had revenue of $44.06 billion during 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 quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. On average, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid 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 (DPR) is 1.29%.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the completion of the sale, the chief executive officer owned 73,748,225 shares in the company, valued at $13,181,757,736.50. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer owned 2,984,516 shares of the company's stock, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,339,800 shares of company stock worth $800,141,003. Insiders own 4.17% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays upped their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 price target for the company. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Finally, Jefferies Financial Group upped their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $182.03.

NVIDIA 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.