Ibex Wealth Advisors Decreases Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Ibex Wealth Advisors cut its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 661,317 shares of the computer hardware maker's stock after selling 69,514 shares during the period. NVIDIA makes up about 9.5% of Ibex Wealth Advisors' portfolio, making the stock its biggest holding. Ibex Wealth Advisors' holdings in NVIDIA were worth $71,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tacita Capital Inc acquired a new stake in NVIDIA in the fourth quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $40,000. Copia Wealth Management bought a new stake in shares of NVIDIA during the 4th quarter valued at approximately $50,000. Finally, Bruce G. Allen Investments LLC increased its position in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ:NVDA traded up $3.73 during trading on Tuesday, reaching $147.90. The company's stock had a trading volume of 187,010,174 shares, compared to its average volume of 270,622,127. The firm has a market cap of $3.61 trillion, a price-to-earnings ratio of 47.71, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $153.13. 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 firm has a 50 day moving average of $127.76 and a 200-day moving average of $126.59.

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

NVIDIA Dividend Announcement

The firm 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insiders Place Their Bets

In other news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction on Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the transaction, the director now directly owns 201,044 shares in the company, valued at approximately $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 125,836 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $137.79, for a total value of $17,338,942.44. Following the sale, the director now directly owns 10,149,697 shares in the company, valued at $1,398,526,749.63. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,393,863 shares of company stock worth $483,709,832 over the last quarter. 4.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on NVDA. Oppenheimer restated an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, June 16th. Barclays raised their price objective on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Raymond James Financial upped their target price on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Truist Financial lifted their price target on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $173.05.

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.