Legacy Wealth Management Inc Sells 1,959 Shares of NVIDIA Corporation $NVDA

Key Points

• Legacy Wealth Management Inc reduced its stake in NVIDIA Corporation by 51.1%, selling 1,959 shares and bringing its total holdings to 1,874 shares worth $296,000.
• Analysts have recently increased their price targets for NVIDIA shares, with Wolfe Research raising it from $220 to $230, and Oppenheimer setting a target of $225.
• NVIDIA's CEO, Jen Hsun Huang, sold 75,000 shares valued at over $14 million, while insider sales in the last three months totaled approximately $653 million.

Legacy Wealth Management Inc trimmed its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 51.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,874 shares of the computer hardware maker's stock after selling 1,959 shares during the period. NVIDIA accounts for approximately 0.0% of Legacy Wealth Management Inc's holdings, making the stock its 28th largest position. Legacy Wealth Management Inc's holdings in NVIDIA were worth $296,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after buying an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of NVIDIA by 1.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after acquiring an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE lifted its holdings in NVIDIA by 6.7% in the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after purchasing an additional 3,653 shares during the last quarter. Hudson Value Partners LLC boosted its position in NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock worth $6,805,000 after purchasing an additional 11,900 shares during the period. Finally, Wealth Group Ltd. grew its holdings in NVIDIA by 15.7% during the first quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker's stock valued at $715,000 after purchasing an additional 896 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NVDA shares. Wolfe Research boosted their price objective on shares of NVIDIA from $220.00 to $230.00 in a research note on Tuesday, September 23rd. DA Davidson upgraded shares of NVIDIA from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $195.00 to $210.00 in a report on Thursday, September 11th. Oppenheimer restated an "outperform" rating and set a $225.00 price target (up from $200.00) on shares of NVIDIA in a report on Thursday, August 28th. Mizuho raised their price target on NVIDIA from $205.00 to $225.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Piper Sandler set a $225.00 price objective on NVIDIA and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $214.15.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $190.20, for a total value of $14,265,000.00. Following the completion of the transaction, the chief executive officer owned 70,558,203 shares of the company's stock, valued at $13,420,170,210.60. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 30,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.40, for a total value of $5,380,200.00. Following the sale, the chief financial officer directly owned 2,883,402 shares in the company, valued at $508,632,112.80. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,678,937 shares of company stock worth $653,013,526. 4.17% of the stock is currently owned by insiders.

NVIDIA Price Performance

Shares of NVDA stock opened at $180.12 on Wednesday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $195.62. The company has a market capitalization of $4.38 trillion, a P/E ratio of 51.32, a P/E/G ratio of 1.36 and a beta of 2.12. The stock has a 50 day moving average of $179.36 and a two-hundred day moving average of $151.77. The company has a current ratio of 4.21, a quick ratio of 3.60 and a debt-to-equity ratio of 0.08.

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

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 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 was Thursday, September 11th. NVIDIA's payout ratio is 1.14%.

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.

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.