E&G Advisors LP Sells 2,400 Shares of NVIDIA Corporation (NASDAQ:NVDA)

E&G Advisors LP decreased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,957 shares of the computer hardware maker's stock after selling 2,400 shares during the quarter. NVIDIA comprises approximately 1.3% of E&G Advisors LP's holdings, making the stock its 15th largest position. E&G Advisors LP's holdings in NVIDIA were worth $4,439,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Centerpoint Advisory Group lifted its position in shares of NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares during the period. GSB Wealth Management LLC lifted its position in shares of NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its position in shares of NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares during the period. Financial Perspectives Inc lifted its position in shares of NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares during the period. Finally, Hickory Point Bank & Trust bought a new position in shares of NVIDIA during the 4th quarter worth approximately $2,272,000. Institutional investors own 65.27% of the company's stock.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,814,800 shares of company stock worth $709,172,753 in the last three months. 4.17% of the stock is owned by corporate insiders.

NVIDIA Stock Down 0.3%

Shares of NASDAQ:NVDA traded down $0.59 during midday trading on Friday, reaching $172.41. The company had a trading volume of 145,118,963 shares, compared to its average volume of 264,002,349. 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 business's 50 day moving average price is $145.88 and its 200 day moving average price is $129.63. The stock has a market cap of $4.21 trillion, a PE ratio of 55.62, a P/E/G ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.16.

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

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. TD Cowen raised their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Jefferies Financial Group raised their price target on NVIDIA from $185.00 to $200.00 in a report on Wednesday. Citigroup raised their price target on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 7th. Arete Research raised NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Finally, Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and an average target price of $181.22.

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.