Appleton Partners Inc. MA Trims Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Appleton Partners Inc. MA cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,035 shares of the computer hardware maker's stock after selling 2,759 shares during the quarter. Appleton Partners Inc. MA's holdings in NVIDIA were worth $9,108,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Perfromance Wealth Partners LLC increased its position in shares of NVIDIA by 2.8% during the first quarter. Perfromance Wealth Partners LLC now owns 1,350,341 shares of the computer hardware maker's stock worth $146,350,000 after buying an additional 36,468 shares during the period. Mayport LLC increased its position in shares of NVIDIA by 4.5% during the first quarter. Mayport LLC now owns 20,355 shares of the computer hardware maker's stock worth $2,206,000 after buying an additional 880 shares during the period. Denver Wealth Management Inc. increased its position in shares of NVIDIA by 431.3% during the first quarter. Denver Wealth Management Inc. now owns 14,207 shares of the computer hardware maker's stock worth $1,540,000 after buying an additional 11,533 shares during the period. Worth Financial Advisory Group LLC increased its position in shares of NVIDIA by 10.6% during the first quarter. Worth Financial Advisory Group LLC now owns 24,397 shares of the computer hardware maker's stock worth $2,644,000 after buying an additional 2,337 shares during the period. Finally, Cabot Wealth Management Inc. increased its position in shares of NVIDIA by 1.1% during the first quarter. Cabot Wealth Management Inc. now owns 44,753 shares of the computer hardware maker's stock worth $4,850,000 after buying an additional 471 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. Piper Sandler restated an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Truist Financial raised their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Barclays raised their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Finally, Oppenheimer restated an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and an average price target of $177.03.

NVIDIA Stock Up 0.7%

Shares of NVDA traded up $1.22 during trading hours on Thursday, reaching $164.10. 167,093,998 shares of the stock traded hands, compared to its average volume of 266,635,224. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $139.47 and a 200 day simple moving average of $128.43. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $164.70. The company has a market cap of $4.00 trillion, a price-to-earnings ratio of 52.94, a PEG ratio of 1.42 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 (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 company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter last year, the business posted $0.61 EPS. The business's quarterly revenue was up 69.2% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a dividend of $0.01 per share. 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 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Transactions at NVIDIA

In related news, Director A Brooke Seawell sold 50,514 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $158.37, for a total transaction of $7,999,902.18. Following the completion of the sale, the director owned 1,974,784 shares in the company, valued at approximately $312,746,542.08. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $158.35, for a total transaction of $11,876,250.00. Following the sale, the chief executive officer owned 75,023,225 shares of the company's stock, valued at $11,879,927,678.75. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,296,844 shares of company stock valued at $624,019,677 in the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

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.