MinichMacGregor Wealth Management LLC Sells 5,494 Shares of NVIDIA Corporation (NASDAQ:NVDA)

MinichMacGregor Wealth Management LLC lessened its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,371 shares of the computer hardware maker's stock after selling 5,494 shares during the period. NVIDIA comprises 2.2% of MinichMacGregor Wealth Management LLC's portfolio, making the stock its 15th largest holding. MinichMacGregor Wealth Management LLC's holdings in NVIDIA were worth $10,051,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GSB Wealth Management LLC increased its position 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 purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC increased its position 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 purchasing an additional 3,206 shares during the last quarter. Financial Perspectives Inc increased its position 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 purchasing an additional 1,265 shares during the last quarter. Hickory Point Bank & Trust acquired a new position in NVIDIA during the fourth quarter worth approximately $2,272,000. Finally, Pegasus Asset Management Inc. grew its stake in NVIDIA by 0.3% during the first quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock worth $8,318,000 after buying an additional 197 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Susquehanna reiterated a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Piper Sandler reiterated an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Morgan Stanley reiterated an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Truist Financial upped their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $177.03.

Insider Activity

In other news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on 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 transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,520,246 shares of company stock valued at $660,253,045. 4.17% of the stock is owned by company insiders.

NVIDIA Trading Up 0.5%

NVDA traded up $0.82 during trading on Friday, reaching $164.92. 193,205,730 shares of the company's stock were exchanged, compared to its average volume of 266,417,627. The company's fifty day moving average price is $140.52 and its 200-day moving average price is $128.60. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $167.84. The firm has a market capitalization of $4.02 trillion, a PE ratio of 53.20, a P/E/G ratio of 1.44 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the firm posted $0.61 EPS. NVIDIA's revenue was up 69.2% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's dividend payout ratio is 1.29%.

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.