Chapin Davis Inc. Lowers Position in NVIDIA Corporation (NASDAQ:NVDA)

Chapin Davis Inc. reduced its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 25.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 126,257 shares of the computer hardware maker's stock after selling 42,243 shares during the quarter. NVIDIA comprises about 4.7% of Chapin Davis Inc.'s portfolio, making the stock its 3rd largest holding. Chapin Davis Inc.'s holdings in NVIDIA were worth $13,684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Centerpoint Advisory Group grew its stake in NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after acquiring an additional 943 shares during the period. GSB Wealth Management LLC grew its stake in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC grew its stake in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after acquiring an additional 3,206 shares during the period. Financial Perspectives Inc grew its stake in NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after acquiring an additional 1,265 shares during the period. Finally, Hickory Point Bank & Trust acquired a new stake in NVIDIA in the 4th quarter valued at $2,272,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total transaction of $12,233,250.00. Following the sale, the chief executive officer owned 74,873,225 shares in the company, valued at approximately $12,212,571,729.75. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A Brooke Seawell sold 49,131 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $162.83, for a total value of $8,000,000.73. Following the sale, the director owned 1,826,382 shares in the company, valued at $297,389,781.06. The trade was a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,520,246 shares of company stock worth $660,253,045 in the last 90 days. Company insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $164.92 on Monday. The business has a fifty day simple moving average of $141.53 and a 200 day simple moving average of $128.62. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.02 trillion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.46 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $167.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of NVIDIA in a research note on Thursday. They set a "buy" rating and a $185.00 target price on the stock. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Rosenblatt Securities lifted their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.03.

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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