ERn Financial LLC Reduces Position in NVIDIA Corporation (NASDAQ:NVDA)

ERn Financial LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,779 shares of the computer hardware maker's stock after selling 3,826 shares during the quarter. ERn Financial LLC's holdings in NVIDIA were worth $4,636,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the fourth quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth approximately $38,000. Copia Wealth Management purchased a new position in NVIDIA during the 4th quarter worth $50,000. Bruce G. Allen Investments LLC boosted its holdings in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares during the last quarter. Finally, LSV Asset Management purchased a new position in NVIDIA during the 4th quarter worth $54,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. HSBC downgraded shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. Mizuho lifted their price objective on shares of NVIDIA from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. UBS Group reissued a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Barclays boosted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Finally, William Blair reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus price target of $177.03.

NVIDIA Price Performance

Shares of NVDA stock traded up $1.22 during trading on Thursday, hitting $164.10. The company had a trading volume of 165,821,410 shares, compared to its average volume of 266,631,197. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock's 50-day moving average is $139.47 and its two-hundred day moving average is $128.43. The stock has a market capitalization of $4.00 trillion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 1.42 and a beta of 2.13. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $164.70.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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 company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the company posted $0.61 earnings per share. As a group, analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal 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 paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 50,514 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $158.37, for a total value of $7,999,902.18. Following the completion of the sale, the director owned 1,974,784 shares of the company's stock, valued at $312,746,542.08. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $158.35, for a total value of $11,876,250.00. Following the completion of the sale, the chief executive officer directly owned 75,023,225 shares of the company's stock, valued at approximately $11,879,927,678.75. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,296,844 shares of company stock valued at $624,019,677. 4.17% of the stock is owned by insiders.

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.