GPS Wealth Strategies Group LLC Lowers Holdings in NVIDIA Corporation (NASDAQ:NVDA)

GPS Wealth Strategies Group LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 513,402 shares of the computer hardware maker's stock after selling 7,512 shares during the period. NVIDIA comprises about 7.5% of GPS Wealth Strategies Group LLC's investment portfolio, making the stock its 2nd biggest position. GPS Wealth Strategies Group LLC's holdings in NVIDIA were worth $55,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the 4th quarter valued at $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the 4th quarter valued at $40,000. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter valued at $50,000. Finally, Bruce G. Allen Investments LLC boosted its stake in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 125,836 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $137.79, for a total transaction of $17,338,942.44. Following the sale, the director now directly owns 10,149,697 shares in the company, valued at $1,398,526,749.63. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,393,863 shares of company stock worth $483,709,832. Company insiders own 4.17% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NVDA. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. TD Cowen increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Mizuho boosted their target price on shares of NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Tigress Financial reissued a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Finally, Arete Research raised shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.78.

NVIDIA Price Performance

NVDA opened at $154.31 on Thursday. The stock has a market cap of $3.77 trillion, a P/E ratio of 49.78, a P/E/G ratio of 1.31 and a beta of 2.12. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $154.45. 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 fifty day simple moving average of $128.75 and a 200 day simple moving average of $126.78.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly 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). The business had revenue of $44.06 billion during 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 firm's revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's payout ratio is 1.29%.

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.

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