NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Impact Partnership Wealth LLC

Key Points

• Impact Partnership Wealth LLC reduced its stake in NVIDIA Corporation by 19.4%, now owning 22,803 shares valued at approximately $2.47 million.
• NVIDIA reported a quarterly earnings miss with EPS of $0.81, falling short of the consensus estimate of $0.87, but revenue for the quarter was up 69.2% year-over-year.
• Insider activity showed significant sales, with Director Mark A. Stevens selling 935,000 shares for over $131 million, representing a 9.21% decrease in his holdings.

Impact Partnership Wealth LLC cut its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 19.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,803 shares of the computer hardware maker's stock after selling 5,502 shares during the quarter. NVIDIA makes up 0.5% of Impact Partnership Wealth LLC's investment portfolio, making the stock its 26th biggest holding. Impact Partnership Wealth LLC's holdings in NVIDIA were worth $2,471,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Condor Capital Management grew its position in shares of NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares during the period. High Note Wealth LLC lifted its stake in shares of NVIDIA by 0.5% during the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock worth $1,937,000 after purchasing an additional 91 shares in the last quarter. Kelly Financial Services LLC increased its position in shares of NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after acquiring an additional 94 shares during the last quarter. Mendel Capital Management LLC increased its position in shares of NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after acquiring an additional 96 shares during the last quarter. Finally, Affiance Financial LLC increased its holdings in NVIDIA by 0.7% in the first quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker's stock valued at $1,479,000 after buying an additional 97 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 0.9%

NVDA opened at $180.45 on Friday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The company has a market cap of $4.40 trillion, a price-to-earnings ratio of 58.21, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14. The firm has a 50 day simple moving average of $163.96 and a 200 day simple moving average of $135.36.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. On average, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current 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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Insider Activity

In other news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, 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. Insiders sold 5,837,440 shares of company stock valued at $889,404,782 in the last 90 days. 4.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the subject of several recent research reports. Truist Financial upped their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Benchmark reiterated a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Piper Sandler set a $225.00 price objective on shares of NVIDIA and gave the stock an "overweight" rating in a research note on Wednesday. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Finally, Phillip Securities raised shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.33.

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.

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