Flagship Harbor Advisors LLC Sells 6,977 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Flagship Harbor Advisors LLC trimmed its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,873 shares of the computer hardware maker's stock after selling 6,977 shares during the quarter. NVIDIA makes up 2.0% of Flagship Harbor Advisors LLC's holdings, making the stock its 8th biggest holding. Flagship Harbor Advisors LLC's holdings in NVIDIA were worth $37,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. GSB Wealth Management LLC boosted its position in shares of NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after buying an additional 1,043 shares during the last quarter. Variant Private Wealth LLC boosted its position in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Financial Perspectives Inc boosted its position in NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares during the last quarter. Hickory Point Bank & Trust purchased a new position in NVIDIA in the fourth quarter worth $2,272,000. Finally, Pegasus Asset Management Inc. boosted its position in NVIDIA by 0.3% in the first quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock worth $8,318,000 after purchasing an additional 197 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $164.36, for a total transaction of $12,327,000.00. Following the sale, the chief executive officer owned 74,648,225 shares in the company, valued at approximately $12,269,182,261. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the sale, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,767,150 shares of company stock worth $701,030,045. 4.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on NVDA shares. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and issued a $170.00 price objective (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Mizuho set a $192.00 target price on NVIDIA and gave the company an "outperform" rating in a report on Tuesday. Finally, Bank of America increased their target price on NVIDIA from $180.00 to $220.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $181.22.

NVIDIA Price Performance

Shares of NVDA stock traded up $0.67 during trading hours on Wednesday, hitting $171.37. The company's stock had a trading volume of 158,313,901 shares, compared to its average volume of 265,189,831. The business has a fifty day moving average of $143.67 and a 200-day moving average of $129.10. The stock has a market cap of $4.18 trillion, a price-to-earnings ratio of 55.28, a P/E/G ratio of 1.45 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $172.40. The company has a current ratio of 3.39, a quick ratio of 2.96 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). 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 analyst estimates of $43.09 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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.