Gradient Capital Advisors LLC Reduces Stake in NVIDIA Corporation (NASDAQ:NVDA)

Gradient Capital Advisors LLC cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,990 shares of the computer hardware maker's stock after selling 1,558 shares during the quarter. Gradient Capital Advisors LLC's holdings in NVIDIA were worth $2,925,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Condor Capital Management grew its stake in NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after acquiring an additional 89 shares during the last quarter. High Note Wealth LLC grew its position in shares of NVIDIA by 0.5% in the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock valued at $1,937,000 after purchasing an additional 91 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. 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, Affiance Financial LLC grew its position in shares of NVIDIA by 0.7% in the first quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker's stock valued at $1,479,000 after purchasing an additional 97 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup increased their target price on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 7th. Needham & Company LLC increased their price objective on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. BNP Paribas raised shares of NVIDIA to a "hold" rating in a research note on Friday, August 1st. Finally, Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.33.

NVIDIA Trading Up 0.2%

Shares of NVDA opened at $182.02 on Friday. The stock's 50-day moving average is $163.18 and its two-hundred day moving average is $135.00. The stock has a market cap of $4.44 trillion, a PE ratio of 58.72, a P/E/G ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

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 return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the firm posted $0.61 earnings per share. The business's revenue was up 69.2% on a year-over-year basis. Equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA's payout ratio is currently 1.29%.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction 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 company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value 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 approximately $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,837,440 shares of company stock worth $889,404,782. 4.17% of the stock is owned by corporate insiders.

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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