Spire Wealth Management Sells 12,995 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Spire Wealth Management decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,087 shares of the computer hardware maker's stock after selling 12,995 shares during the quarter. NVIDIA comprises about 2.5% of Spire Wealth Management's portfolio, making the stock its 4th biggest position. Spire Wealth Management's holdings in NVIDIA were worth $77,176,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Centerpoint Advisory Group lifted its position in NVIDIA by 2.5% during the 1st 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 lifted its position in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its position in NVIDIA by 20.6% during the 1st 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 period. Financial Perspectives Inc lifted its position in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after acquiring an additional 1,265 shares during the period. Finally, Hickory Point Bank & Trust acquired a new stake in NVIDIA during the 4th quarter worth about $2,272,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVDA stock traded up $1.63 during trading hours on Thursday, reaching $173.00. The company had a trading volume of 160,375,417 shares, compared to its average volume of 264,477,289. 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 fifty day moving average of $144.76 and a 200-day moving average of $129.39. The company has a market capitalization of $4.22 trillion, a price-to-earnings ratio of 55.81, a PEG ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.12.

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). The company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. On average, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,767,150 shares of company stock valued at $701,030,045. Insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Benchmark reiterated a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 price objective on NVIDIA in a research note on Wednesday, March 19th. Susquehanna reiterated a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. One 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $181.22.

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.