Neumann Capital Management LLC Has $19.04 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Neumann Capital Management LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,665 shares of the computer hardware maker's stock after selling 7,450 shares during the period. NVIDIA makes up 6.6% of Neumann Capital Management LLC's portfolio, making the stock its 2nd biggest holding. Neumann Capital Management LLC's holdings in NVIDIA were worth $19,039,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hickory Point Bank & Trust purchased a new stake in NVIDIA during the fourth quarter valued at about $2,272,000. BTC Capital Management Inc. increased its position in shares of NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock valued at $35,785,000 after purchasing an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP raised its holdings in shares of NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after buying an additional 9,944 shares in the last quarter. Waddell & Associates LLC lifted its position in NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock worth $3,240,000 after buying an additional 297 shares during the last quarter. Finally, Strategy Asset Managers LLC lifted its position in NVIDIA by 0.8% in the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock worth $7,024,000 after buying an additional 405 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVDA. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Susquehanna reaffirmed a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.78.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director now owns 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the sale, the director now owns 201,044 shares of the company's stock, valued at approximately $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,468,863 shares of company stock valued at $495,150,332. Corporate insiders own 4.17% of the company's stock.

NVIDIA Trading Up 0.5%

NASDAQ NVDA opened at $155.02 on Friday. The firm has a market capitalization of $3.78 trillion, a PE ratio of 50.01, a P/E/G ratio of 1.36 and a beta of 2.12. The stock's 50 day moving average is $129.83 and its 200 day moving average is $126.89. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $156.72. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 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.

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