Franklin Street Advisors Inc. NC Sells 1,729 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Franklin Street Advisors Inc. NC lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 781,819 shares of the computer hardware maker's stock after selling 1,729 shares during the quarter. NVIDIA accounts for 6.0% of Franklin Street Advisors Inc. NC's portfolio, making the stock its 3rd largest position. Franklin Street Advisors Inc. NC's holdings in NVIDIA were worth $84,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tacita Capital Inc bought a new position in NVIDIA in the fourth quarter worth approximately $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the fourth quarter valued at $40,000. Copia Wealth Management purchased a new position in NVIDIA during the fourth quarter valued at $50,000. Finally, LSV Asset Management bought a new stake in NVIDIA during the fourth quarter valued at about $54,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 4.3%

NVDA stock traded up $6.41 during midday trading on Wednesday, reaching $154.31. The company's stock had a trading volume of 265,323,485 shares, compared to its average volume of 270,605,978. The firm has a market capitalization of $3.77 trillion, a price-to-earnings ratio of 49.78, a PEG ratio of 1.27 and a beta of 2.12. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $154.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a fifty day simple moving average of $127.76 and a two-hundred day simple moving average of $126.59.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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). The company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's payout ratio is currently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the transaction, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This represents a 19.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director now owns 9,214,697 shares of the company's stock, 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 have sold 3,393,863 shares of company stock worth $483,709,832 in the last ninety days. 4.17% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. DZ Bank raised NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Benchmark reiterated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. DA Davidson lifted their target price on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Finally, Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. One investment 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $175.78.

NVIDIA 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.