NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by World Equity Group Inc.

World Equity Group Inc. lessened its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 39.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,551 shares of the computer hardware maker's stock after selling 42,157 shares during the quarter. NVIDIA comprises approximately 2.0% of World Equity Group Inc.'s investment portfolio, making the stock its 8th biggest holding. World Equity Group Inc.'s holdings in NVIDIA were worth $6,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter valued at approximately $38,000. Copia Wealth Management bought a new stake in NVIDIA in the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC raised its holdings in 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 purchasing an additional 327 shares during the period. Finally, LSV Asset Management bought a new position in shares of NVIDIA during the fourth quarter worth $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday. Needham & Company LLC reissued a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Wedbush reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Finally, Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued 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 currently has a consensus rating of "Moderate Buy" and an average price target of $177.03.

NVIDIA Price Performance

Shares of NVDA stock traded up $1.22 during trading hours on Thursday, reaching $164.10. The company's stock had a trading volume of 167,093,998 shares, compared to its average volume of 266,635,224. The firm's 50 day simple moving average is $139.47 and its 200-day simple moving average is $128.43. The company has a market capitalization of $4.00 trillion, a price-to-earnings ratio of 52.94, a PEG ratio of 1.42 and a beta of 2.13. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $164.70. 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 quarterly earnings data 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's payout ratio is currently 1.29%.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $158.35, for a total value of $11,876,250.00. Following the completion of the transaction, the chief executive officer owned 75,023,225 shares of the company's stock, valued at $11,879,927,678.75. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director A Brooke Seawell sold 50,514 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $158.37, for a total transaction of $7,999,902.18. Following the completion of the transaction, the director directly owned 1,974,784 shares of the company's stock, valued at approximately $312,746,542.08. The trade was a 2.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,296,844 shares of company stock worth $624,019,677. 4.17% of the stock is currently owned by corporate insiders.

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.