Connective Portfolio Management LLC Sells 12,595 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Connective Portfolio Management LLC cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 52.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,390 shares of the computer hardware maker's stock after selling 12,595 shares during the period. NVIDIA makes up approximately 4.2% of Connective Portfolio Management LLC's holdings, making the stock its 10th largest holding. Connective Portfolio Management LLC's holdings in NVIDIA were worth $1,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tacita Capital Inc purchased a new position in NVIDIA in the fourth quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at approximately $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $50,000. LSV Asset Management acquired a new stake in shares of NVIDIA during the fourth quarter worth approximately $54,000. Finally, Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

NVDA traded up $0.82 on Friday, reaching $164.92. The company had a trading volume of 193,205,730 shares, compared to its average volume of 265,988,678. The company has a market capitalization of $4.02 trillion, a P/E ratio of 53.20, a PEG ratio of 1.45 and a beta of 2.13. 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 fifty day moving average of $141.53 and a 200-day moving average of $128.77. NVIDIA Corporation has a one year low of $86.62 and a one year high of $167.89.

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

NVIDIA Dividend Announcement

The company 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business'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 sale, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock valued at $660,253,045 in the last quarter. Company insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Raymond James Financial boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Finally, The Goldman Sachs Group initiated coverage on NVIDIA in a report on Thursday. They issued a "buy" rating and a $185.00 price target for the company. 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 issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average target price of $177.03.

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.