Narwhal Capital Management Sells 15,136 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Narwhal Capital Management decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 511,339 shares of the computer hardware maker's stock after selling 15,136 shares during the quarter. NVIDIA accounts for approximately 4.9% of Narwhal Capital Management's holdings, making the stock its 4th largest position. Narwhal Capital Management's holdings in NVIDIA were worth $55,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. BCR Wealth Strategies LLC grew its holdings in shares of NVIDIA by 3.1% during the 4th quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock worth $391,000 after purchasing an additional 89 shares in the last quarter. Condor Capital Management raised its position in NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares during the last quarter. Squire Investment Management Company LLC raised its position in NVIDIA by 4.0% in the 4th quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock valued at $317,000 after purchasing an additional 91 shares during the last quarter. Kelly Financial Services LLC raised its position in NVIDIA by 2.0% in the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares during the last quarter. Finally, Macroview Investment Management LLC raised its position in NVIDIA by 2.9% in the 4th quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker's stock valued at $461,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NVDA shares. Citigroup lifted their target price on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Mizuho boosted their target price on NVIDIA from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Loop Capital boosted their target price on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. The Goldman Sachs Group assumed coverage on NVIDIA in a report on Thursday. They issued a "buy" rating and a $185.00 price target on the stock. Finally, Arete Research upgraded NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $177.03.

NVIDIA Price Performance

NVIDIA stock opened at $164.92 on Monday. The company has a market capitalization of $4.02 trillion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.46 and a beta of 2.13. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $167.89. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock's 50 day moving average is $141.53 and its 200-day moving average is $128.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. Equities research 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, July 3rd. Shareholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is presently 1.29%.

Insider Buying and Selling at NVIDIA

In other news, Director A Brooke Seawell sold 49,131 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $162.83, for a total value of $8,000,000.73. Following the completion of the transaction, the director directly owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. This represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total value of $12,233,250.00. Following the transaction, the chief executive officer directly owned 74,873,225 shares of the company's stock, valued at approximately $12,212,571,729.75. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,520,246 shares of company stock valued at $660,253,045 over the last 90 days. Corporate insiders own 4.17% of the company's stock.

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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