Chilton Capital Management LLC Sells 6,031 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Chilton Capital Management LLC reduced its stake in NVIDIA by 0.6%, now holding a total of 953,764 shares valued at approximately $103.37 million.
• Insider trading disclosed that NVIDIA's Director sold 48,792 shares for nearly $8 million, and the CEO sold 75,000 shares for more than $13.4 million.
• Numerous analysts have upgraded NVIDIA's stock price targets, with Bank of America raising it to $220, contributing to its current average rating of "Moderate Buy" and a consensus target price of $182.03.

Chilton Capital Management LLC decreased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 953,764 shares of the computer hardware maker's stock after selling 6,031 shares during the period. NVIDIA makes up approximately 4.5% of Chilton Capital Management LLC's investment portfolio, making the stock its 2nd largest holding. Chilton Capital Management LLC's holdings in NVIDIA were worth $103,369,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NVDA. FMR LLC boosted its position in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after buying an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC boosted its position in NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new stake in NVIDIA in the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp boosted its position in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Stock Down 2.3%

Shares of NVDA traded down $4.15 during midday trading on Friday, hitting $173.72. The company had a trading volume of 203,669,565 shares, compared to its average volume of 153,436,048. The company's 50-day simple moving average is $155.30 and its 200-day simple moving average is $132.32. 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 market capitalization of $4.24 trillion, a P/E ratio of 56.04, a P/E/G ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results 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 analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. As a group, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced 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 payout ratio is presently 1.29%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Loop Capital increased their target price on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Truist Financial increased their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Arete Research raised NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $182.03.

About NVIDIA

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.