Jacksonville Wealth Management LLC Sells 2,966 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Jacksonville Wealth Management LLC cut its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,172 shares of the computer hardware maker's stock after selling 2,966 shares during the period. NVIDIA makes up 7.5% of Jacksonville Wealth Management LLC's holdings, making the stock its 5th largest position. Jacksonville Wealth Management LLC's holdings in NVIDIA were worth $7,605,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management acquired a new stake in NVIDIA during the fourth quarter worth about $50,000. LSV Asset Management acquired a new stake in NVIDIA during the fourth quarter worth about $54,000. Finally, Bruce G. Allen Investments LLC grew its holdings in NVIDIA by 198.2% during 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. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 50,980 shares of NVIDIA stock in a transaction on Friday, June 27th. The stock was sold at an average price of $156.92, for a total value of $7,999,781.60. Following the sale, the director now owns 1,679,361 shares in the company, valued at $263,525,328.12. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president now owns 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,792,267 shares of company stock worth $544,823,117 over the last quarter. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $157.75 on Friday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $158.71. The company has a market cap of $3.85 trillion, a price-to-earnings ratio of 50.89, a PEG ratio of 1.37 and a beta of 2.12. 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 business's 50 day moving average price is $130.96 and its 200 day moving average price is $127.05.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 EPS. The business's quarterly revenue was up 69.2% compared to the same quarter last year. On average, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.29%.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays raised their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. DZ Bank raised NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Piper Sandler reissued an "overweight" rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Finally, Susquehanna reissued a "positive" rating and issued a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.78.

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.

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