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

ERn Financial LLC lessened its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. SC&H Financial Advisors Inc. lifted its stake in NVIDIA by 1.6% in the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after acquiring an additional 80 shares during the period. DecisionPoint Financial LLC lifted its stake in NVIDIA by 2.9% in the fourth quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock worth $386,000 after acquiring an additional 80 shares during the period. BCR Wealth Strategies LLC lifted its stake in NVIDIA by 3.1% in the fourth quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock worth $391,000 after acquiring an additional 89 shares during the period. Condor Capital Management lifted its stake in NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after acquiring an additional 89 shares during the period. Finally, Squire Investment Management Company LLC lifted its stake in NVIDIA by 4.0% in the fourth quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock worth $317,000 after acquiring an additional 91 shares during the period. Institutional investors own 65.27% of the company's stock.

Insider Buying and Selling

In other NVIDIA news, Director A Brooke Seawell sold 51,740 shares of the stock in a transaction that occurred 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 $243,790,745.58. This trade represents a 3.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NVIDIA stock traded down $1.10 during midday trading on Monday, hitting $158.24. The stock had a trading volume of 139,658,637 shares, compared to its average volume of 267,841,414. The firm's fifty day moving average is $136.38 and its two-hundred day moving average is $127.81. The company has a market capitalization of $3.86 trillion, a PE ratio of 51.05, a P/E/G ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $160.98. 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 (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. On average, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.

Analysts Set New Price Targets

NVDA has been the subject of a number of research analyst reports. TD Cowen raised their price target on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Barclays raised their price objective on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Benchmark reissued a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Citigroup raised their price objective on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Monday. One investment 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $176.47.

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.