Clarity Wealth Advisors LLC Trims Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Clarity Wealth Advisors LLC reduced its stake in NVIDIA Corporation by 11.4% in the first quarter, resulting in ownership of 51,927 shares valued at approximately $5.63 million.
• NVIDIA reported quarterly earnings of $0.81 per share, missing analyst expectations, but its revenue grew by 69.2% year-over-year, reaching $44.06 billion.
• Analysts have revised NVIDIA's target stock price upwards, with many firms rating NVIDIA as a "buy" or "strong-buy", reflecting positive sentiment in the market.

Clarity Wealth Advisors LLC cut its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,927 shares of the computer hardware maker's stock after selling 6,666 shares during the period. NVIDIA comprises 1.6% of Clarity Wealth Advisors LLC's portfolio, making the stock its 24th largest holding. Clarity Wealth Advisors LLC's holdings in NVIDIA were worth $5,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Wealth Group Ltd. increased its stake in shares of NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in shares of NVIDIA in the fourth quarter worth $972,000. Brighton Jones LLC increased its stake in shares of NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after purchasing an additional 35,815 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in NVIDIA by 1.0% during 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 in the last quarter. Finally, Highview Capital Management LLC DE grew its stake in NVIDIA by 6.7% during 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 in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $178.26 on Wednesday. The stock has a market cap of $4.35 trillion, a price-to-earnings ratio of 57.50, a price-to-earnings-growth ratio of 1.59 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 1 year low of $86.62 and a 1 year high of $183.30. The firm has a 50-day moving average of $157.13 and a two-hundred day moving average of $132.90.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. On average, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's payout ratio is currently 1.29%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. Oppenheimer raised their target price on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Barclays raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. DA Davidson raised their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Finally, Rosenblatt Securities raised their target price on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $182.03.

Insider Activity

In other news, CFO Colette Kress sold 27,650 shares of the business's stock in a transaction dated 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. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 73,523,225 shares of the company's stock, 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. In the last 90 days, insiders sold 5,489,800 shares of company stock valued at $826,553,003. Company insiders own 4.17% of the company's stock.

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.

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