Nichols & Pratt Advisers LLP MA Sells 2,600 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Nichols & Pratt Advisers LLP MA reduced its stake in NVIDIA by 8.1%, bringing their holdings to 29,340 shares valued at approximately $3.18 million.
• Institutional investors currently own 65.27% of NVIDIA stock, with other hedge funds like FMR LLC and Geode Capital Management increasing their stakes in the company.
• Analysts maintain a consensus rating of "Moderate Buy" for NVIDIA, forecasting an average price target of $181.22 despite recent earnings results that slightly missed expectations.

Nichols & Pratt Advisers LLP MA lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,340 shares of the computer hardware maker's stock after selling 2,600 shares during the quarter. Nichols & Pratt Advisers LLP MA's holdings in NVIDIA were worth $3,180,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Astoria Portfolio Advisors LLC. boosted its stake in NVIDIA by 0.9% in the first 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 during the last quarter. Centerpoint Advisory Group raised its holdings in shares of NVIDIA by 2.5% during the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares during the period. GSB Wealth Management LLC grew its holdings 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 worth $3,534,000 after buying an additional 1,043 shares in the last quarter. Variant Private Wealth LLC increased its stake in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after buying an additional 3,206 shares during the last quarter. Finally, Financial Perspectives Inc grew its stake in NVIDIA by 2.8% in the first 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 in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NVDA shares. Rosenblatt Securities lifted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. TD Cowen raised their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Jefferies Financial Group raised their price objective on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Finally, Mizuho set a $192.00 price objective on NVIDIA and gave the company an "outperform" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $182.03.

NVIDIA Stock Performance

Shares of NVDA stock traded down $4.15 during trading on Friday, reaching $173.72. The company had a trading volume of 203,669,565 shares, compared to its average volume of 248,821,531. The firm's 50 day simple moving average is $154.45 and its two-hundred day simple moving average is $132.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30. The company has a market capitalization of $4.24 trillion, a PE ratio of 56.04, a PEG ratio of 1.58 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $44.06 billion during 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%. The firm's revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid 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 yield of 0.0%. NVIDIA's payout ratio is currently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, 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 $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock worth $800,141,003 in the last three months. Company insiders own 4.17% of the company's stock.

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.