Legacy Capital Wealth Partners LLC Sells 17,752 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Legacy Capital Wealth Partners LLC lowered its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 29.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,046 shares of the computer hardware maker's stock after selling 17,752 shares during the quarter. NVIDIA makes up about 1.0% of Legacy Capital Wealth Partners LLC's portfolio, making the stock its 16th biggest position. Legacy Capital Wealth Partners LLC's holdings in NVIDIA were worth $4,557,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVDA. Astoria Portfolio Advisors LLC. lifted its holdings in NVIDIA by 0.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after buying an additional 864 shares during the period. Centerpoint Advisory Group lifted its holdings in NVIDIA by 2.5% during the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares during the period. GSB Wealth Management LLC lifted its holdings in NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its holdings in NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares during the period. Finally, Financial Perspectives Inc lifted its holdings in NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares during the period. Institutional investors own 65.27% of the company's stock.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the sale, the chief executive officer owned 72,998,225 shares of the company's stock, valued at approximately $13,240,418,050.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,837,440 shares of company stock worth $889,404,782. Corporate insiders own 4.17% of the company's stock.

NVIDIA Trading Down 0.8%

NVDA opened at $181.62 on Thursday. 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 company's 50 day simple moving average is $162.34 and its two-hundred day simple moving average is $134.56. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The firm has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 58.59, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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). The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the business earned $0.61 earnings per share. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of analyst reports. Morgan Stanley upped their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Mizuho set a $192.00 target price on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Needham & Company LLC upped their target price on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. TD Cowen upped their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Bank of America increased their price objective on NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $185.97.

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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