Aviance Capital Partners LLC Cuts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Aviance Capital Partners LLC lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 13.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,865 shares of the computer hardware maker's stock after selling 10,348 shares during the period. NVIDIA comprises 1.0% of Aviance Capital Partners LLC's holdings, making the stock its 21st biggest holding. Aviance Capital Partners LLC's holdings in NVIDIA were worth $6,922,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Tacita Capital Inc acquired a new stake in NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the fourth quarter worth $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA in the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of NVIDIA in the first quarter worth $51,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Trading Down 1.0%

Shares of NVDA stock traded down $1.80 during trading hours on Friday, hitting $176.07. 105,302,895 shares of the company were exchanged, compared to its average volume of 248,096,203. The firm has a market cap of $4.30 trillion, a P/E ratio of 56.78, a P/E/G ratio of 1.58 and a beta of 2.13. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30. 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 company has a 50 day simple moving average of $154.45 and a two-hundred day simple moving average of $132.03.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $43.09 billion. During the same period last year, the business earned $0.61 EPS. The business's quarterly revenue was up 69.2% compared to the same quarter last year. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NVDA shares. UBS Group reissued a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Citigroup increased their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Bank of America increased their price objective on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Finally, Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the transaction, the chief executive officer directly owned 73,748,225 shares of the company's stock, valued at $13,181,757,736.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director owned 1,729,478 shares in the company, valued at $283,565,212.88. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,339,800 shares of company stock valued at $800,141,003. 4.17% of the stock is owned by company insiders.

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.