Moloney Securities Asset Management LLC Sells 10,188 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Moloney Securities Asset Management LLC reduced its stake in NVIDIA Corporation by 7.2%, selling 10,188 shares to own 131,718 shares, valued at approximately $14.3 million.
• Insider sell transactions included Director A Brooke Seawell, who sold 48,792 shares for nearly $8 million, and CEO Jen Hsun Huang, who sold 75,000 shares for over $13.4 million.
• Equities analysts have raised their price targets for NVIDIA, with Bank of America setting a new target at $220.00 and Loop Capital at $250.00, maintaining a generally positive outlook on the stock.

Moloney Securities Asset Management LLC trimmed its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 131,718 shares of the computer hardware maker's stock after selling 10,188 shares during the quarter. NVIDIA comprises 1.9% of Moloney Securities Asset Management LLC's portfolio, making the stock its 8th largest position. Moloney Securities Asset Management LLC's holdings in NVIDIA were worth $14,276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Advisory Solutions LLC raised its position in shares of NVIDIA by 4.6% during the 1st quarter. Wealth Advisory Solutions LLC now owns 2,945 shares of the computer hardware maker's stock worth $319,000 after purchasing an additional 129 shares during the period. Axxcess Wealth Management LLC raised its position in shares of NVIDIA by 9.6% during the 1st quarter. Axxcess Wealth Management LLC now owns 551,657 shares of the computer hardware maker's stock worth $59,789,000 after purchasing an additional 48,158 shares during the period. Rehmann Capital Advisory Group raised its position in shares of NVIDIA by 5.6% during the 1st quarter. Rehmann Capital Advisory Group now owns 123,694 shares of the computer hardware maker's stock worth $13,406,000 after purchasing an additional 6,523 shares during the period. Harvey Capital Management Inc. raised its position in shares of NVIDIA by 10.7% during the 1st quarter. Harvey Capital Management Inc. now owns 478,197 shares of the computer hardware maker's stock worth $51,827,000 after purchasing an additional 46,402 shares during the period. Finally, Slagle Financial LLC grew its holdings in NVIDIA by 3.3% in the 1st quarter. Slagle Financial LLC now owns 71,717 shares of the computer hardware maker's stock worth $7,773,000 after buying an additional 2,278 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NVDA shares. Bank of America increased their price objective on NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Loop Capital increased their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Oppenheimer increased their price objective on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Piper Sandler reissued an "overweight" rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average price target of $182.03.

Insiders Place Their Bets

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the completion of the transaction, the chief executive officer directly owned 73,748,225 shares in the company, valued at approximately $13,181,757,736.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,339,800 shares of company stock valued at $800,141,003 over the last quarter. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $173.72 on Monday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30. The business has a fifty day simple moving average of $155.30 and a 200 day simple moving average of $132.28. The firm has a market cap of $4.24 trillion, a price-to-earnings 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 announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. NVIDIA's revenue was up 69.2% on a year-over-year basis. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA Company 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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