Greenleaf Trust Cuts Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Greenleaf Trust reduced its holdings in NVIDIA Corporation by 2.5% in the first quarter, now owning 834,124 shares worth approximately $90.4 million.
• Several other institutional investors, including FMR LLC and Geode Capital Management, have also increased their positions in NVIDIA, reflecting overall strong interest in the stock with institutional ownership now at 65.27%.
• NVIDIA's stock recently faced a decrease of 2.3%, with a market cap of $4.24 trillion and latest quarterly earnings revealing a revenue increase of 69.2% year-over-year.

Greenleaf Trust reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 834,124 shares of the computer hardware maker's stock after selling 21,752 shares during the period. NVIDIA comprises approximately 0.8% of Greenleaf Trust's portfolio, making the stock its 9th biggest holding. Greenleaf Trust's holdings in NVIDIA were worth $90,402,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NVDA. Tacita Capital Inc purchased a new stake in NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the fourth quarter worth $38,000. Copia Wealth Management purchased a new stake in NVIDIA in the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA in the first quarter worth $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 worth $53,000 after acquiring an additional 327 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

Shares of NVDA stock traded down $2.04 during trading hours on Tuesday, reaching $177.96. 29,014,392 shares of the company traded hands, compared to its average volume of 246,617,203. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The company has a market cap of $4.34 trillion, a P/E ratio of 57.54, a P/E/G ratio of 1.53 and a beta of 2.14. The firm has a 50-day moving average price of $156.27 and a 200 day moving average price of $132.58.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly 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 business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. 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 payout ratio is currently 1.29%.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value 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. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock valued at $800,141,003 in the last 90 days. 4.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC raised their price target on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Citigroup increased their price objective on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Mizuho set a $192.00 price objective on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Finally, Oppenheimer increased their price objective on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $182.03.

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.