Legacy Trust Trims Stake in NVIDIA Corporation $NVDA

Key Points

• Legacy Trust reduced its holdings in NVIDIA by 5.4%, now owning 26,875 shares worth approximately $4.25 million.
• Analysts remain optimistic, with price targets ranging from $215 to $300, and an average price target of $222.23.
• NVIDIA's recent earnings report showed a 55.6% increase in quarterly revenue year-over-year, with a reported EPS of $1.05, exceeding expectations.

Legacy Trust lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,875 shares of the computer hardware maker's stock after selling 1,524 shares during the quarter. Legacy Trust's holdings in NVIDIA were worth $4,246,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Rosenblatt Securities restated a "buy" rating and set a $215.00 target price on shares of NVIDIA in a research report on Tuesday, September 23rd. Wolfe Research increased their price target on NVIDIA from $220.00 to $230.00 in a research note on Tuesday, September 23rd. Barclays restated an "overweight" rating and set a $240.00 price objective (up previously from $200.00) on shares of NVIDIA in a report on Monday, September 22nd. Daiwa Capital Markets lifted their price objective on NVIDIA from $165.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Finally, Cantor Fitzgerald set a $300.00 target price on NVIDIA and gave the company an "overweight" rating in a research note on Thursday, October 9th. Five research analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $222.23.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $182.16 on Friday. The business's fifty day moving average price is $179.35 and its 200 day moving average price is $155.20. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $195.62. The company has a current ratio of 4.21, a quick ratio of 3.60 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $4.43 trillion, a P/E ratio of 51.90, a PEG ratio of 1.30 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The computer hardware maker reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. The company had revenue of $46.74 billion for the quarter, compared to the consensus estimate of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The company's quarterly revenue was up 55.6% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. NVIDIA has set its Q3 2026 guidance at EPS. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Thursday, September 11th. NVIDIA's payout ratio is currently 1.14%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $179.91, for a total transaction of $13,493,250.00. Following the completion of the sale, the chief executive officer directly owned 69,958,203 shares of the company's stock, valued at approximately $12,586,180,301.73. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the firm's stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $181.42, for a total value of $5,014,448.80. Following the completion of the transaction, the chief financial officer directly owned 2,855,762 shares in the company, valued at $518,092,342.04. This trade represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,801,577 shares of company stock valued at $678,643,875. 4.17% of the stock is owned by insiders.

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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