Conway Capital Management Inc. Reduces Position in NVIDIA Corporation (NASDAQ:NVDA)

Conway Capital Management Inc. decreased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 33.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 141,709 shares of the computer hardware maker's stock after selling 72,313 shares during the period. NVIDIA comprises about 7.7% of Conway Capital Management Inc.'s investment portfolio, making the stock its 5th biggest holding. Conway Capital Management Inc.'s holdings in NVIDIA were worth $15,358,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Tacita Capital Inc acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter worth $38,000. Copia Wealth Management acquired a new position in NVIDIA in the fourth quarter worth $50,000. Bruce G. Allen Investments LLC increased its stake in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in shares of NVIDIA during the fourth quarter worth $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 1.3%

Shares of NVIDIA stock traded up $2.03 on Friday, hitting $159.28. 143,716,055 shares of the company traded hands, compared to its average volume of 268,139,289. 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 Corporation has a 12-month low of $86.62 and a 12-month high of $160.98. The company has a 50-day moving average price of $135.41 and a 200 day moving average price of $127.64. The company has a market cap of $3.89 trillion, a PE ratio of 51.38, a PEG ratio of 1.39 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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 firm had revenue of $44.06 billion during 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%. The business's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. Sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the transaction, the chief executive officer owned 75,323,225 shares in the company, valued at approximately $11,865,667,634.25. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A Brooke Seawell sold 51,740 shares of NVIDIA stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the sale, the director directly owned 1,576,709 shares of the company's stock, valued at approximately $243,790,745.58. The trade was a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,044,919 shares of company stock valued at $584,414,209 over the last ninety days. Corporate insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent analyst reports. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Truist Financial increased their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Susquehanna reissued a "positive" rating and set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Finally, Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $176.19.

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.