Cutter & CO Brokerage Inc. Decreases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Cutter & CO Brokerage Inc. reduced its holdings in NVIDIA Corporation (NVDA) by 7.9%, selling 2,254 shares and bringing its total ownership to 26,155 shares valued at approximately $2.8 million.
• Various large investors are adjusting their stakes in NVIDIA, with firms like Bruce G. Allen Investments LLC increasing their position by 198.2% in the first quarter.
• Despite a recent earnings miss, NVIDIA's stock has an average price target of $183.75 with numerous analysts holding a bullish outlook, including 32 who rate it as a buy.

Cutter & CO Brokerage Inc. decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 26,155 shares of the computer hardware maker's stock after selling 2,254 shares during the period. Cutter & CO Brokerage Inc.'s holdings in NVIDIA were worth $2,835,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Copia Wealth Management bought a new position in NVIDIA during the 4th quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at $51,000. Bruce G. Allen Investments LLC grew its position in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the period. LSV Asset Management acquired a new stake in NVIDIA in the 4th quarter valued at $54,000. Finally, Delos Wealth Advisors LLC grew its position in NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock valued at $66,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial lifted their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Citigroup boosted their price objective on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Piper Sandler reissued an "overweight" rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Loop Capital upped their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $183.75.

NVIDIA Trading Down 0.4%

NVDA traded down $0.64 during trading hours on Monday, reaching $182.06. 138,011,711 shares of the company's stock traded hands, compared to its average volume of 244,601,375. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.88. The firm has a market capitalization of $4.44 trillion, a PE ratio of 58.73, a PEG ratio of 1.61 and a beta of 2.14. The firm has a 50-day moving average price of $159.82 and a 200 day moving average price of $133.62. 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 (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 during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,687,440 shares of company stock valued at $862,095,782. 4.17% of the stock is currently owned by insiders.

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.