Main Street Research LLC Sells 171,280 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Main Street Research LLC reduced its stake in NVIDIA Corporation by 27.7%, selling 171,280 shares and now holding 447,769 shares, which constitute 3.2% of its investment portfolio.
• NVIDIA reported $0.81 EPS for the most recent quarter, missing analyst estimates of $0.87, but exceeded revenue expectations with $44.06 billion during the quarter.
• The company also recently declared a quarterly dividend of $0.01, representing a minimal annualized yield of 0.0%, highlighting a very low payout ratio of 1.29%.

Main Street Research LLC reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 447,769 shares of the computer hardware maker's stock after selling 171,280 shares during the period. NVIDIA accounts for approximately 3.2% of Main Street Research LLC's investment portfolio, making the stock its 11th biggest position. Main Street Research LLC's holdings in NVIDIA were worth $48,534,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Tacita Capital Inc bought a new position in NVIDIA during the 4th quarter worth $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the 4th quarter worth $38,000. Copia Wealth Management bought a new position in NVIDIA during the 4th quarter worth $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in NVIDIA during the 1st quarter worth $51,000. Finally, Bruce G. Allen Investments LLC raised its position in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $173.72 on Monday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The company's 50 day moving average price is $155.30 and its two-hundred day moving average price is $132.28. 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 $4.24 trillion, a P/E ratio of 56.04, a P/E/G ratio of 1.53 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate 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 firm posted $0.61 EPS. On average, equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In related news, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director owned 1,729,478 shares of the company's stock, valued at approximately $283,565,212.88. The trade was a 2.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at $510,023,939.24. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,339,800 shares of company stock valued at $800,141,003. 4.17% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. The Goldman Sachs Group started coverage on NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 target price for the company. Arete Research upgraded NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Finally, Rosenblatt Securities increased their price target on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

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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