NVIDIA Corporation (NASDAQ:NVDA) Stake Decreased by Meadow Creek Wealth Advisors LLC

Key Points

• Meadow Creek Wealth Advisors LLC reduced its position in NVIDIA by 6.4%, making it the advisor's 7th largest position, accounting for about 3.2% of its investment portfolio.
• NVIDIA's quarterly earnings report showed a miss on EPS estimates, with earnings per share of $0.81, compared to expectations of $0.87, despite a significant revenue increase.
• Recent insider trading activity included Director A Brooke Seawell and CEO Jen Hsun Huang selling a combined total of over 123,000 shares, demonstrating some executive profit-taking.

Meadow Creek Wealth Advisors LLC cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,239 shares of the computer hardware maker's stock after selling 2,677 shares during the period. NVIDIA comprises approximately 3.2% of Meadow Creek Wealth Advisors LLC's holdings, making the stock its 7th largest position. Meadow Creek Wealth Advisors LLC's holdings in NVIDIA were worth $4,253,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NVDA. Astoria Portfolio Advisors LLC. raised its holdings in NVIDIA by 0.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock valued at $9,610,000 after acquiring an additional 864 shares in the last quarter. Centerpoint Advisory Group increased its stake in shares of NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after buying an additional 943 shares in the last quarter. GSB Wealth Management LLC grew its stake in shares of NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC raised its position in shares of NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after acquiring an additional 3,206 shares during the last quarter. Finally, Financial Perspectives Inc boosted its stake in shares of NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after purchasing an additional 1,265 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Trading Up 2.1%

Shares of NVDA stock traded up $3.76 during trading hours on Wednesday, hitting $179.27. 170,353,567 shares of the company were exchanged, compared to its average volume of 149,383,152. The firm has a market cap of $4.37 trillion, a P/E ratio of 57.83, a P/E/G ratio of 1.55 and a beta of 2.13. The company has a 50 day simple moving average of $153.55 and a two-hundred day simple moving average of $131.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $179.89.

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 for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $43.09 billion. During the same period last year, the business posted $0.61 earnings per share. The firm's quarterly revenue was up 69.2% on a year-over-year basis. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $175.22, for a total transaction of $13,141,500.00. Following the completion of the sale, the chief executive officer owned 73,898,225 shares in the company, valued at $12,948,446,984.50. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 27,650 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,264,800 shares of company stock worth $786,735,503 in the last ninety days. Company insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVDA. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Jefferies Financial Group upped their target price on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Loop Capital raised their target price on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. The Goldman Sachs Group started coverage on shares of NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 target price for the company. Finally, TD Cowen raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

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.