Hexagon Capital Partners LLC Has $6.02 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Hexagon Capital Partners LLC has reduced its position in NVIDIA shares by 5.3%, selling 3,092 shares and holding 55,561 shares, which account for approximately 1.1% of their portfolio.
• Despite some insider selling, various institutional investors, including Wealth Group Ltd. and Brighton Jones LLC, have increased their stakes in NVIDIA, demonstrating continued interest in the company.
• NVIDIA reported a missed earnings estimate for the most recent quarter, with earnings per share of $0.81 against a consensus estimate of $0.87, yet revenue climbed by 69.2% year-over-year to $44.06 billion.

Hexagon Capital Partners LLC trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,561 shares of the computer hardware maker's stock after selling 3,092 shares during the period. NVIDIA accounts for about 1.1% of Hexagon Capital Partners LLC's investment portfolio, making the stock its 6th largest position. Hexagon Capital Partners LLC's holdings in NVIDIA were worth $6,022,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. GAMMA Investing LLC raised its position in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after purchasing an additional 48,439,859 shares during the last quarter. Northern Trust Corp boosted its stake in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NVDA stock traded down $4.15 during midday trading on Friday, reaching $173.72. 203,669,565 shares of the company's stock traded hands, compared to its average volume of 153,436,048. The company has a 50-day moving average price of $155.30 and a two-hundred day moving average price of $132.32. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The firm has a market capitalization of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.57 and a beta of 2.14.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NVDA shares. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Morgan Stanley upped their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday. Mizuho set a $192.00 price objective on NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Arete Research raised NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Finally, Benchmark reaffirmed a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, 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 have sold a total of 5,339,800 shares of company stock valued at $800,141,003 over the last ninety days. 4.17% of the stock is currently owned by insiders.

NVIDIA Company 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.