NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lessened its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,425 shares of the computer hardware maker's stock after selling 4,602 shares during the quarter. NVIDIA comprises approximately 1.0% of Asset Dedication LLC's holdings, making the stock its 15th biggest holding. Asset Dedication LLC's holdings in NVIDIA were worth $12,185,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the 4th quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of NVIDIA in the 1st quarter valued at $51,000. Bruce G. Allen Investments LLC raised 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 during the period. Finally, LSV Asset Management purchased a new position in shares of NVIDIA in the 4th quarter valued at $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity

In other NVIDIA news, CFO Colette Kress sold 27,640 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the completion of the transaction, the chief financial officer owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $182.38, for a total transaction of $13,678,500.00. Following the completion of the transaction, the chief executive officer owned 73,223,225 shares of the company's stock, valued at approximately $13,354,451,775.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,687,440 shares of company stock worth $862,095,782. 4.17% of the stock is owned by company insiders.

NVIDIA Price Performance

NVDA opened at $182.67 on Friday. The firm has a market cap of $4.46 trillion, a price-to-earnings ratio of 58.93, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.88. The company's 50-day moving average price is $159.82 and its 200 day moving average price is $133.80. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 EPS. As a group, sell-side analysts expect 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 paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVDA. BNP Paribas raised shares of NVIDIA to a "hold" rating in a research note on Friday, August 1st. Jefferies Financial Group upped their target price on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Citigroup lifted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Morgan Stanley boosted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, TD Cowen raised their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average price target of $183.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.