Gries Financial LLC Reduces Stock Position in NVIDIA Corporation $NVDA

Key Points

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Gries Financial LLC lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 38.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,885 shares of the computer hardware maker's stock after selling 19,599 shares during the quarter. NVIDIA makes up approximately 0.7% of Gries Financial LLC's holdings, making the stock its 27th largest holding. Gries Financial LLC's holdings in NVIDIA were worth $3,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in NVIDIA in the 4th quarter valued at about $43,515,504,000. GAMMA Investing LLC grew its holdings in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp grew its holdings in 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 buying an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. grew its holdings in NVIDIA by 204.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after buying an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NVIDIA in the 4th quarter valued at about $2,987,733,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Trading Up 0.9%

NASDAQ:NVDA opened at $182.01 on Tuesday. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $184.48. The stock has a market cap of $4.44 trillion, a price-to-earnings ratio of 58.71, a PEG ratio of 1.59 and a beta of 2.14. The business has a fifty day moving average of $164.75 and a 200-day moving average of $135.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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). 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 the consensus estimate of $43.09 billion. During the same period in the previous year, the company posted $0.61 EPS. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. Equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared 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 of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is presently 1.29%.

Analysts Set New Price Targets

Several research firms have commented on NVDA. TD Cowen lifted their price target on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. DA Davidson lifted their price objective on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Rosenblatt Securities lifted their price objective on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One research 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 issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $187.61.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction on 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 completion of the sale, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,912,440 shares of company stock worth $902,886,782. 4.17% of the stock is owned by company insiders.

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.

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