Grant GrossMendelsohn LLC Cuts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Grant GrossMendelsohn LLC cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,998 shares of the computer hardware maker's stock after selling 1,605 shares during the quarter. NVIDIA makes up approximately 1.3% of Grant GrossMendelsohn LLC's holdings, making the stock its 23rd largest holding. Grant GrossMendelsohn LLC's holdings in NVIDIA were worth $2,392,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Vision Financial Markets LLC acquired a new position in NVIDIA during the 4th quarter valued at about $38,000. Copia Wealth Management purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $50,000. LSV Asset Management acquired a new stake in NVIDIA during the 4th quarter worth about $54,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA in the 1st quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC lifted 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 valued at $53,000 after acquiring an additional 327 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NVDA shares. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Barclays raised their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Bank of America boosted their price objective on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Finally, Rosenblatt Securities boosted their price objective on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $183.75.

NVIDIA Trading Up 0.8%

NVDA stock opened at $180.77 on Friday. The company has a market capitalization of $4.41 trillion, a PE ratio of 58.31, a price-to-earnings-growth ratio of 1.58 and a beta of 2.14. 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 company's 50-day simple moving average is $158.85 and its 200 day simple moving average is $133.52. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.88.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the company posted $0.61 EPS. The firm's revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 0.0%. NVIDIA's dividend payout ratio is 1.29%.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares in the company, valued at $526,501,340.56. The trade was a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.16, for a total value of $13,362,000.00. Following the completion of the sale, the chief executive officer owned 73,523,225 shares of the company's stock, valued at approximately $13,098,897,766. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,537,440 shares of company stock worth $835,035,782 in the last ninety days. Insiders own 4.17% of the company's stock.

NVIDIA Company 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.

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