FSR Wealth Management Ltd. Reduces Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• FSR Wealth Management Ltd. significantly reduced its holdings in NVIDIA Corporation by 52.8%, leaving it with 5,685 shares valued at approximately $616,000, making NVIDIA its 23rd biggest holding.
• NVIDIA's CEO and EVP both sold substantial shares on June 25th, with CEO Jen Hsun Huang selling 75,000 shares and EVP Ajay K. Puri selling 168,195 shares, reflecting a decrease in their ownership.
• Several analysts have raised their target prices for NVIDIA stock, with reports indicating a current average target of $181.22 and a general rating of "Moderate Buy".

FSR Wealth Management Ltd. cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 52.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,685 shares of the computer hardware maker's stock after selling 6,370 shares during the period. NVIDIA accounts for approximately 0.8% of FSR Wealth Management Ltd.'s holdings, making the stock its 23rd biggest holding. FSR Wealth Management Ltd.'s holdings in NVIDIA were worth $616,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NVDA. FMR LLC boosted its stake in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC raised its stake in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank bought a new position in shares of NVIDIA in the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp boosted its position in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $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 have sold 5,264,800 shares of company stock worth $786,735,503 in the last three months. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

NASDAQ NVDA traded up $0.66 on Thursday, hitting $179.93. 66,232,539 shares of the stock traded hands, compared to its average volume of 247,988,000. The firm has a market capitalization of $4.39 trillion, a price-to-earnings ratio of 58.10, a PEG ratio of 1.55 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The business's fifty day moving average is $153.55 and its two-hundred day moving average is $131.72. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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 for 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 business's revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA's dividend payout ratio is presently 1.29%.

Analyst Ratings Changes

Several analysts recently issued reports on NVDA shares. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Loop Capital lifted their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Mizuho set a $192.00 price target on shares of NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Finally, Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. One 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

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.