Hager Investment Management Services LLC Sells 7,045 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Hager Investment Management Services LLC reduced its stake in NVIDIA Corporation by 11%, selling 7,045 shares, which leaves them with 57,253 shares valued at approximately $6.2 million.
• Insider Mark A. Stevens sold 935,000 shares of NVIDIA for about $131.76 million, a 9.21% decrease in his ownership.
• NVIDIA reported $0.81 earnings per share for the last quarter, missing the consensus estimate of $0.87, while the company's revenue exceeded expectations at $44.06 billion.

Hager Investment Management Services LLC decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,253 shares of the computer hardware maker's stock after selling 7,045 shares during the quarter. NVIDIA comprises approximately 4.3% of Hager Investment Management Services LLC's investment portfolio, making the stock its 3rd largest position. Hager Investment Management Services LLC's holdings in NVIDIA were worth $6,205,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter valued at $43,515,504,000. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp increased its stake in shares of 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 acquiring an additional 36,266,817 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of 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 acquiring an additional 23,948,733 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of NVIDIA in the 4th quarter valued at $2,987,733,000. Institutional investors own 65.27% of the company's stock.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the company'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 transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,687,440 shares of company stock valued at $862,095,782 in the last ninety days. 4.17% of the stock is currently owned by company insiders.

NVIDIA Trading Up 1.1%

Shares of NVDA opened at $182.67 on Monday. The business's 50-day moving average price is $159.82 and its 200-day moving average price is $133.62. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $183.88. The stock has a market cap of $4.46 trillion, a PE ratio of 58.93, a P/E/G ratio of 1.61 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company 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 for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the company posted $0.61 earnings per share. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on NVDA. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Truist Financial boosted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. DA Davidson boosted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Finally, Mizuho set a $192.00 price target on shares of NVIDIA and gave the company an "outperform" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.75.

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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