NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by NTV Asset Management LLC

Key Points

• NTV Asset Management LLC has reduced its stake in NVIDIA Corporation by 53.4%, selling 61,719 shares and now holding 53,957 shares valued at approximately $5.85 million.
• The stock price of NVIDIA dropped 2.3% recently, with current trading at around $173.72 and a 12-month high of $183.30.
• NVIDIA reported earnings of $0.81 per share, missing expectations by $0.06, despite a revenue increase of 69.2% year-over-year to $44.06 billion.

NTV Asset Management LLC reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 53.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,957 shares of the computer hardware maker's stock after selling 61,719 shares during the quarter. NTV Asset Management LLC's holdings in NVIDIA were worth $5,848,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Hourglass Capital LLC lifted its position in shares of NVIDIA by 1.1% during the first quarter. Hourglass Capital LLC now owns 35,780 shares of the computer hardware maker's stock valued at $3,878,000 after buying an additional 400 shares during the last quarter. Garrett Wealth Advisory Group LLC lifted its position in shares of NVIDIA by 7.7% during the first quarter. Garrett Wealth Advisory Group LLC now owns 7,003 shares of the computer hardware maker's stock valued at $759,000 after buying an additional 498 shares during the last quarter. Brown Financial Advisory acquired a new position in shares of NVIDIA during the first quarter valued at about $303,000. Investment Partners LTD. raised its position in shares of NVIDIA by 0.6% in the 1st quarter. Investment Partners LTD. now owns 46,919 shares of the computer hardware maker's stock valued at $5,085,000 after purchasing an additional 279 shares during the last quarter. Finally, Consolidated Capital Management LLC raised its position in shares of NVIDIA by 5.2% in the 1st quarter. Consolidated Capital Management LLC now owns 44,141 shares of the computer hardware maker's stock valued at $4,784,000 after purchasing an additional 2,195 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Raymond James Financial increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Mizuho set a $192.00 price objective on shares of NVIDIA and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Rosenblatt Securities increased their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $182.03.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total value of $13,405,500.00. Following the completion of the sale, the chief executive officer directly owned 73,748,225 shares of the company's stock, valued at approximately $13,181,757,736.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.88, for a total value of $3,417,600.00. Following the completion of the sale, the chief financial officer directly owned 163,060 shares of the company's stock, valued at $27,863,692.80. The trade was a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,339,800 shares of company stock worth $800,141,003 over the last quarter. Insiders own 4.17% of the company's stock.

NVIDIA Trading Up 3.6%

Shares of NVDA stock traded up $6.28 on Monday, hitting $180.00. 147,497,317 shares of the stock traded hands, compared to its average volume of 248,133,797. The firm's 50-day moving average price is $155.30 and its two-hundred day moving average price is $132.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a market capitalization of $4.39 trillion, a PE ratio of 58.06, a PEG ratio of 1.53 and a beta of 2.14. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. As a group, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared 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. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. 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.