NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by ZWJ Investment Counsel Inc.

Key Points

• ZWJ Investment Counsel Inc. reduced its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 4.0%, making it their 7th largest position with approximately 2.7% of their overall holdings valued at $65.3 million.
• NVIDIA recently reported earnings of $0.81 per share, missing estimates of $0.87, while revenue was up 69.2% year-over-year at $44.06 billion.
• Insider transactions included CEO Jen Hsun Huang selling 75,000 shares for approximately $11.44 million, reflecting a 0.10% decrease in his ownership stake.

ZWJ Investment Counsel Inc. decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 602,717 shares of the computer hardware maker's stock after selling 25,265 shares during the quarter. NVIDIA comprises approximately 2.7% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 7th biggest holding. ZWJ Investment Counsel Inc.'s holdings in NVIDIA were worth $65,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tacita Capital Inc bought a new stake in shares of NVIDIA during the 4th quarter worth about $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the fourth quarter worth $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA in the 4th quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in NVIDIA in the first quarter valued at $51,000. Finally, Bruce G. Allen Investments LLC increased its stake in shares of 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 acquiring an additional 327 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Up 0.4%

NVDA traded up $0.66 on Thursday, hitting $179.93. 66,232,539 shares of the company were exchanged, compared to its average volume of 247,988,000. 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 market capitalization of $4.39 trillion, a PE ratio of 58.10, a price-to-earnings-growth ratio of 1.55 and a beta of 2.13. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30. The firm has a fifty day simple moving average of $153.55 and a two-hundred day simple moving average of $131.72.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue was up 69.2% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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. 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 dividend payout ratio (DPR) is presently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,264,800 shares of company stock worth $786,735,503 over the last three months. 4.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Thursday, April 3rd. Rosenblatt Securities increased their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Needham & Company LLC raised their price target on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, UBS Group restated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently 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.