NVIDIA Corporation (NASDAQ:NVDA) is StoneCrest Wealth Management Inc.'s 2nd Largest Position

StoneCrest Wealth Management Inc. reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,488 shares of the computer hardware maker's stock after selling 2,599 shares during the period. NVIDIA comprises about 5.6% of StoneCrest Wealth Management Inc.'s holdings, making the stock its 2nd largest holding. StoneCrest Wealth Management Inc.'s holdings in NVIDIA were worth $8,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. DiNuzzo Private Wealth Inc. lifted its stake in NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after buying an additional 71 shares during the last quarter. Baker Boyer National Bank lifted its stake in NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock valued at $323,000 after buying an additional 76 shares during the last quarter. SC&H Financial Advisors Inc. lifted its stake in NVIDIA by 1.6% in the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after buying an additional 80 shares during the last quarter. DecisionPoint Financial LLC lifted its stake in NVIDIA by 2.9% in the fourth quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock valued at $386,000 after buying an additional 80 shares during the last quarter. Finally, BCR Wealth Strategies LLC lifted its stake in NVIDIA by 3.1% in the fourth quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock valued at $391,000 after buying an additional 89 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVDA stock traded down $1.65 during midday trading on Friday, reaching $143.83. 242,268,370 shares of the company traded hands, compared to its average volume of 272,243,965. The firm's 50 day simple moving average is $126.37 and its two-hundred day simple moving average is $126.56. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $153.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market cap of $3.51 trillion, a PE ratio of 46.40, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12.

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

NVIDIA Announces Dividend

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

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director now directly owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was 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 of the company's stock, valued at approximately $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,469,685 shares of company stock worth $349,669,962. Company insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NVDA shares. Benchmark reiterated a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Rosenblatt Securities increased their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $173.05.

NVIDIA Company 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.