Leelyn Smith LLC Sells 2,011 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Leelyn Smith LLC reduced its stake in NVIDIA Corporation by 2.1% in Q1, selling 2,011 shares and now holding 92,312 shares valued at approximately $10 million.
• NVIDIA reported earnings per share (EPS) of $0.81 for the latest quarter, missing analysts' expectations, but its revenue rose by 69.2% year-over-year to $44.06 billion.
• Several analysts have recently increased their target prices for NVIDIA, with a current consensus rating of "Moderate Buy" and an average target price of $183.75.

Leelyn Smith LLC decreased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,312 shares of the computer hardware maker's stock after selling 2,011 shares during the quarter. NVIDIA comprises approximately 1.8% of Leelyn Smith LLC's investment portfolio, making the stock its 9th biggest position. Leelyn Smith LLC's holdings in NVIDIA were worth $10,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in NVIDIA during the fourth quarter worth $43,515,504,000. GAMMA Investing LLC increased its holdings in NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after purchasing an additional 48,439,859 shares during the period. Northern Trust Corp increased its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. grew its holdings in NVIDIA by 204.6% during 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 acquiring an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in NVIDIA during the 4th quarter worth about $2,987,733,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated 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 owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,687,440 shares of company stock worth $862,095,782. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $0.64 during trading on Monday, reaching $182.06. 138,011,711 shares of the stock traded hands, compared to its average volume of 244,601,375. The company has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.73, a P/E/G ratio of 1.61 and a beta of 2.14. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business has a fifty day simple moving average of $159.82 and a two-hundred day simple moving average of $133.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 prior year, the company earned $0.61 EPS. The firm's quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts expect 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. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. 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 dividend payout ratio (DPR) is 1.29%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Morgan Stanley boosted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. DA Davidson boosted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Finally, Loop Capital boosted their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $183.75.

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.