Investment Research & Advisory Group Inc. Trims Stake in NVIDIA Corporation (NASDAQ:NVDA)

Investment Research & Advisory Group Inc. trimmed its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 90.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,295 shares of the computer hardware maker's stock after selling 633,060 shares during the period. NVIDIA accounts for 3.1% of Investment Research & Advisory Group Inc.'s portfolio, making the stock its 5th biggest position. Investment Research & Advisory Group Inc.'s holdings in NVIDIA were worth $7,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NVDA. Wealth Group Ltd. boosted its position in shares of NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in shares of NVIDIA in the fourth quarter worth approximately $972,000. Capital & Planning LLC raised its position in NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after acquiring an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. raised its position in NVIDIA by 1.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after acquiring an additional 104 shares in the last quarter. Finally, Brighton Jones LLC raised its position in NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after acquiring an additional 35,815 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NVDA shares. Benchmark reissued a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Bank of America upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Mizuho increased their price objective on shares of NVIDIA from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Finally, Raymond James Financial upped their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $176.47.

NVIDIA Stock Performance

NVDA stock traded up $3.91 during midday trading on Wednesday, reaching $163.91. 34,005,714 shares of the company were exchanged, compared to its average volume of 258,685,828. 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 business has a 50-day moving average price of $138.39 and a two-hundred day moving average price of $128.20. NVIDIA Corporation has a one year low of $86.62 and a one year high of $164.42. The firm has a market capitalization of $4.00 trillion, a price-to-earnings ratio of 52.92, a price-to-earnings-growth ratio of 1.40 and a beta of 2.13.

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 analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during 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 posted $0.61 EPS. Equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business'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 of the company's stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,296,844 shares of company stock worth $624,019,677 in the last ninety days. 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.