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NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Trust Point Inc.

NVIDIA logo with Computer and Technology background

Trust Point Inc. lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 29.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,395 shares of the computer hardware maker's stock after selling 47,080 shares during the quarter. NVIDIA comprises approximately 1.1% of Trust Point Inc.'s portfolio, making the stock its 13th biggest position. Trust Point Inc.'s holdings in NVIDIA were worth $12,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tacita Capital Inc acquired a new stake in NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $38,000. Copia Wealth Management acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $50,000. Bruce G. Allen Investments LLC lifted its stake in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares in the last quarter. Finally, LSV Asset Management acquired a new position in shares of NVIDIA in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on NVDA shares. Mizuho increased their price objective on NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Truist Financial raised their price objective on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Bank of America raised their price target on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Raymond James Financial increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average price target of $175.78.

Check Out Our Latest Stock Analysis on NVIDIA

NVIDIA Stock Up 2.6%

NVIDIA stock traded up $3.95 during midday trading on Wednesday, hitting $157.25. The stock had a trading volume of 170,637,789 shares, compared to its average volume of 263,404,531. The business has a fifty day moving average price of $133.27 and a 200 day moving average price of $127.24. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $158.71. The stock has a market cap of $3.84 trillion, a P/E ratio of 50.73, a P/E/G ratio of 1.40 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.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the firm posted $0.61 earnings per share. The company's quarterly revenue was up 69.2% on a year-over-year basis. Research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the sale, the chief executive officer owned 75,323,225 shares of the company's stock, valued at approximately $11,865,667,634.25. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 51,740 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total value of $8,000,038.80. Following the transaction, the director directly owned 1,576,709 shares in the company, valued at $243,790,745.58. This trade represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,044,919 shares of company stock worth $584,414,209. 4.17% of the stock is owned by insiders.

About NVIDIA

(Free Report)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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