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

Connective Portfolio Management LLC lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 52.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,390 shares of the computer hardware maker's stock after selling 12,595 shares during the quarter. NVIDIA makes up 4.2% of Connective Portfolio Management LLC's investment portfolio, making the stock its 10th largest holding. Connective Portfolio Management LLC's holdings in NVIDIA were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NVDA. Norges Bank acquired a new stake in NVIDIA during the 4th quarter worth about $43,515,504,000. GAMMA Investing LLC boosted its position in 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 during the period. Northern Trust Corp boosted its position in 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 during the period. Proficio Capital Partners LLC boosted its position in NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after acquiring an additional 23,948,733 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

NASDAQ:NVDA traded up $1.22 during trading hours on Thursday, reaching $164.10. The company had a trading volume of 167,093,998 shares, compared to its average volume of 266,635,224. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.00 trillion, a PE ratio of 52.94, a PEG ratio of 1.42 and a beta of 2.13. The stock has a 50-day moving average of $139.47 and a two-hundred day moving average of $128.43. NVIDIA Corporation has a one year low of $86.62 and a one year high of $164.70.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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 during 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%. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 EPS. Analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. 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 dividend payout ratio is currently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,296,844 shares of company stock worth $624,019,677 in the last three months. Company insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several research reports. William Blair reiterated an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. TD Cowen boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Benchmark restated a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $177.03.

About NVIDIA

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.