Iron Horse Wealth Management LLC Lowers Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Iron Horse Wealth Management LLC significantly reduced its position in NVIDIA, cutting holdings by 79.3% to $79,000, after selling 2,780 shares in the 1st quarter.
• In a significant insider transaction, Director Tench Coxe sold 1 million shares for $142.80 each, totaling approximately $142.8 million, which decreased his ownership by 3.61%.
• NVIDIA reported a quarterly revenue of $44.06 billion, beating analysts' expectations, while its earnings per share fell short at $0.81 against an anticipated $0.87.

Iron Horse Wealth Management LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 79.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 726 shares of the computer hardware maker's stock after selling 2,780 shares during the quarter. Iron Horse Wealth Management LLC's holdings in NVIDIA were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC grew its position 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 worth $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp grew its position 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 worth $35,782,134,000 after buying an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. grew its position 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 worth $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 shares of NVIDIA in the 4th quarter worth about $2,987,733,000. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVDA has been the topic of a number of recent research reports. Raymond James Financial upped their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Jefferies Financial Group increased their price objective on shares of NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Needham & Company LLC increased their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Bank of America boosted their price target on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. One equities 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,687,440 shares of company stock worth $862,095,782. 4.17% of the stock is currently owned by insiders.

NVIDIA Price Performance

NVDA traded up $0.45 during trading hours on Tuesday, hitting $182.51. The company's stock had a trading volume of 71,885,257 shares, compared to its average volume of 243,441,188. The business's 50-day moving average price is $160.71 and its 200-day moving average price is $133.89. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.88. The stock has a market cap of $4.45 trillion, a price-to-earnings ratio of 58.92, a P/E/G ratio of 1.61 and a beta of 2.14. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results 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). 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 quarter in the prior year, the firm posted $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed 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 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 1.29%.

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.