Hixon Zuercher LLC Lowers Stake in NVIDIA Corporation (NASDAQ:NVDA)

Hixon Zuercher LLC cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,432 shares of the computer hardware maker's stock after selling 2,952 shares during the period. NVIDIA comprises about 1.9% of Hixon Zuercher LLC's investment portfolio, making the stock its 17th biggest position. Hixon Zuercher LLC's holdings in NVIDIA were worth $5,466,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Tacita Capital Inc purchased a new position in shares of NVIDIA in the fourth quarter valued at about $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at about $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the fourth quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of NVIDIA in the first quarter valued at about $51,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of 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 in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 1.9%

Shares of NASDAQ:NVDA traded up $3.25 during trading hours on Monday, hitting $176.75. 139,407,827 shares of the company's stock traded hands, compared to its average volume of 155,064,304. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $177.00. The business has a fifty day moving average price of $151.77 and a 200-day moving average price of $131.09. The firm has a market capitalization of $4.31 trillion, a P/E ratio of 57.02, a price-to-earnings-growth ratio of 1.53 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS. Equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's payout ratio is 1.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented 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. Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Mizuho set a $192.00 target price on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Oppenheimer lifted their target price on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $181.22.

Insider Activity at NVIDIA

In related news, Director A Brooke Seawell sold 48,792 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 27,650 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,264,800 shares of company stock worth $786,735,503. Company insiders own 4.17% of the company's stock.

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.