Envestnet Portfolio Solutions Inc. Sells 138,660 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,056,345 shares of the computer hardware maker's stock after selling 138,660 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in NVIDIA were worth $114,487,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tacita Capital Inc acquired a new stake in NVIDIA in the fourth quarter valued at $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the fourth quarter valued at $38,000. Copia Wealth Management acquired a new stake in NVIDIA in the fourth quarter valued at $50,000. Bruce G. Allen Investments LLC lifted its stake in NVIDIA by 198.2% in the first 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 last quarter. Finally, LSV Asset Management acquired a new stake in NVIDIA in the fourth quarter valued at $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent analyst reports. DA Davidson increased their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Bank of America increased their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Finally, Raymond James Financial raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $176.47.

NVIDIA Price Performance

NVDA stock traded up $1.76 during mid-day trading on Tuesday, hitting $160.00. The stock had a trading volume of 137,191,824 shares, compared to its average volume of 267,323,344. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $160.98. The firm has a market capitalization of $3.90 trillion, a P/E ratio of 51.61, a P/E/G ratio of 1.41 and a beta of 2.13. The firm has a fifty day simple moving average of $137.37 and a 200 day simple moving average of $127.97.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results 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 net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,296,844 shares of company stock valued at $624,019,677 in the last 90 days. 4.17% of the stock is owned by corporate insiders.

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.