Jmac Enterprises LLC Sells 61,062 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Jmac Enterprises LLC lessened its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 87.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,987 shares of the computer hardware maker's stock after selling 61,062 shares during the quarter. Jmac Enterprises LLC's holdings in NVIDIA were worth $974,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NVDA. Tacita Capital Inc bought a new stake in NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new stake in NVIDIA in the fourth quarter valued at approximately $38,000. Copia Wealth Management bought a new stake in NVIDIA in the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC boosted its holdings 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 valued at $53,000 after acquiring an additional 327 shares during the last quarter. Finally, LSV Asset Management bought a new stake in NVIDIA in the fourth quarter valued at approximately $54,000. Institutional investors own 65.27% of the company's stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 49,131 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $162.83, for a total value of $8,000,000.73. Following the completion of the sale, the director directly owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total value of $12,233,250.00. Following the completion of the sale, the chief executive officer owned 74,873,225 shares of the company's stock, valued at $12,212,571,729.75. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,520,246 shares of company stock valued at $660,253,045 over the last quarter. Company insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVDA. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Rosenblatt Securities upped their target price on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Loop Capital upped their target price on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Finally, Citigroup increased their price target on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and an average price target of $177.03.

NVIDIA Price Performance

NVDA opened at $164.92 on Friday. The business has a fifty day moving average of $141.53 and a 200 day moving average of $128.69. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $167.89. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.02 trillion, a P/E ratio of 53.20, a PEG ratio of 1.46 and a beta of 2.13.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.

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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.