Del Sette Capital Management LLC Cuts Stake in NVIDIA Corporation $NVDA

Del Sette Capital Management LLC lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 18.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,462 shares of the computer hardware maker's stock after selling 5,929 shares during the period. NVIDIA comprises 2.3% of Del Sette Capital Management LLC's investment portfolio, making the stock its 15th biggest position. Del Sette Capital Management LLC's holdings in NVIDIA were worth $2,868,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bingham Private Wealth LLC grew its stake in NVIDIA by 13.8% during the 1st quarter. Bingham Private Wealth LLC now owns 17,938 shares of the computer hardware maker's stock valued at $1,944,000 after acquiring an additional 2,171 shares in the last quarter. Meridian Wealth Advisors LLC grew its stake in NVIDIA by 52.0% during the 1st quarter. Meridian Wealth Advisors LLC now owns 88,076 shares of the computer hardware maker's stock valued at $9,546,000 after acquiring an additional 30,150 shares in the last quarter. Lowery Thomas LLC grew its stake in NVIDIA by 4.9% during the 1st quarter. Lowery Thomas LLC now owns 6,033 shares of the computer hardware maker's stock valued at $654,000 after acquiring an additional 280 shares in the last quarter. Sargent Investment Group LLC grew its stake in NVIDIA by 14.8% during the 1st quarter. Sargent Investment Group LLC now owns 67,123 shares of the computer hardware maker's stock valued at $7,275,000 after acquiring an additional 8,638 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in NVIDIA by 4.3% during the 1st quarter. Lindbrook Capital LLC now owns 252,771 shares of the computer hardware maker's stock valued at $27,395,000 after acquiring an additional 10,496 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. This trade represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the sale, the chief executive officer owned 72,998,225 shares in the company, valued at $13,240,418,050.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,837,440 shares of company stock worth $889,404,782 over the last quarter. 4.17% of the stock is owned by company insiders.

NVIDIA Price Performance

NVIDIA stock opened at $180.45 on Monday. The firm has a market cap of $4.40 trillion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $184.48. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company's 50 day moving average is $163.96 and its two-hundred day moving average is $135.52.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 business posted $0.61 earnings per share. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler set a $225.00 price objective on shares of NVIDIA and gave the company an "overweight" rating in a research note on Wednesday. Jefferies Financial Group increased their price target on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Needham & Company LLC increased their price target on shares of NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Benchmark reissued a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Loop Capital increased their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company 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 given a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.33.

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.

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.