Sugar Maple Asset Management LLC Trims Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Sugar Maple Asset Management LLC lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 52.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,061 shares of the computer hardware maker's stock after selling 4,479 shares during the period. Sugar Maple Asset Management LLC's holdings in NVIDIA were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in NVIDIA in the 4th quarter valued at about $43,515,504,000. GAMMA Investing LLC boosted its position in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp boosted its position in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC increased its stake in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in NVIDIA during the fourth quarter valued at approximately $2,987,733,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on 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 sale, the director now owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,540,845 shares of company stock worth $357,983,449 over the last three months. 4.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research analyst reports. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. Piper Sandler restated an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Rosenblatt Securities boosted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Bank of America increased their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $173.05.

NVIDIA Stock Performance

Shares of NVDA stock traded up $1.36 during trading on Thursday, hitting $145.48. The company's stock had a trading volume of 160,943,826 shares, compared to its average volume of 274,874,787. 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 company has a market cap of $3.55 trillion, a PE ratio of 46.93, a P/E/G ratio of 1.27 and a beta of 2.12. The business has a fifty day moving average of $124.96 and a 200-day moving average of $126.62. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $153.13.

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 analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during 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 firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 EPS. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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