Financiere des Professionnels Fonds d investissement inc. Reduces Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Financiere des Professionnels Fonds d investissement inc. reduced its stake in NVIDIA by 19.8%, selling 24,682 shares and leaving it with 99,799 shares valued at $10.8 million.
• In the fourth quarter, several institutional investors increased their holdings in NVIDIA, with FMR LLC alone owning over 1 billion shares worth approximately $134.88 billion.
• NVIDIA CEO Jen Hsun Huang sold 75,000 shares for $11.44 million, while the company reported earnings per share of $0.81 for its last quarter, missing estimates by $0.06.

Financiere des Professionnels Fonds d investissement inc. lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 19.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,799 shares of the computer hardware maker's stock after selling 24,682 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in NVIDIA were worth $10,816,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NVDA. Condor Capital Management grew its position in shares of NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares during the last quarter. Kelly Financial Services LLC grew its position in shares of NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares during the last quarter. Foundry Financial Group Inc. grew its position in shares of NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after purchasing an additional 96 shares during the last quarter. Mendel Capital Management LLC grew its position in shares of NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after purchasing an additional 96 shares during the last quarter. Finally, Wallace Hart LLC grew its position in shares of NVIDIA by 3.9% in the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after purchasing an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Down 2.3%

NVDA stock traded down $4.15 during trading on Friday, reaching $173.72. The stock had a trading volume of 203,669,565 shares, compared to its average volume of 153,436,048. 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 has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 56.04, a P/E/G ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30. The company's 50 day moving average is $155.30 and its two-hundred day moving average is $132.32.

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

NVIDIA Dividend Announcement

The business 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 of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value 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. This represents a 4.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock worth $800,141,003 over the last quarter. 4.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NVDA shares. Mizuho set a $192.00 price target on NVIDIA and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Phillip Securities raised NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group began coverage on NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 target price on the stock. Needham & Company LLC lifted their target price on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group lifted their target price on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

About NVIDIA

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.