NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Family Firm Inc.

Key Points

• Family Firm Inc. has reduced its stake in NVIDIA Corporation by 9.7%, now owning 52,602 shares worth approximately $5.7 million, making it the fund's 16th largest holding.
• Insider sales noted significant transactions, with Director Mark A. Stevens selling 935,000 shares and Director Tench Coxe selling 1,000,000 shares, leading to a decrease in their ownership percentages.
• Several analysts have upgraded their price targets for NVIDIA, with Barclays raising its target from $170 to $200, and Loop Capital adjusting its target from $175 to $250, reflecting positive sentiment in the market.

Family Firm Inc. cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,602 shares of the computer hardware maker's stock after selling 5,677 shares during the quarter. NVIDIA accounts for 1.3% of Family Firm Inc.'s investment portfolio, making the stock its 16th biggest holding. Family Firm Inc.'s holdings in NVIDIA were worth $5,701,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vision Financial Markets LLC purchased a new stake in NVIDIA during the fourth quarter valued at about $38,000. Copia Wealth Management purchased a new stake in NVIDIA during the fourth quarter valued at about $50,000. LSV Asset Management purchased a new stake in NVIDIA during the fourth quarter valued at about $54,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA during the first quarter valued at about $51,000. Finally, Bruce G. Allen Investments LLC grew its position 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 acquiring an additional 327 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mark A. Stevens sold 935,000 shares of the company'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 in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,537,440 shares of company stock worth $835,035,782. 4.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVDA. Barclays upped their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Loop Capital upped their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Bank of America upped their target price on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, TD Cowen upped their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

NVIDIA Price Performance

NVDA stock opened at $180.77 on Friday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.88. The company's fifty day moving average price is $158.85 and its 200-day moving average price is $133.52. 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 company has a market capitalization of $4.41 trillion, a PE ratio of 58.31, a price-to-earnings-growth ratio of 1.58 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA's payout ratio is 1.29%.

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.

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