NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Lakeside Advisors INC.

Key Points

• Lakeside Advisors INC. reduced its stake in NVIDIA Corporation by 8.9%, now holding 17,300 shares worth approximately $1.875 million.
• NVIDIA's quarterly earnings for May showed $0.81 earnings per share, missing estimates, while revenue surged to $44.06 billion, exceeding analyst expectations.
• Insider selling has occurred recently, with director Mark A. Stevens selling 935,000 shares valued at over $131 million, resulting in a 9.21% decrease in his holdings.

Lakeside Advisors INC. cut its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,300 shares of the computer hardware maker's stock after selling 1,700 shares during the period. NVIDIA accounts for approximately 1.2% of Lakeside Advisors INC.'s investment portfolio, making the stock its 19th largest holding. Lakeside Advisors INC.'s holdings in NVIDIA were worth $1,875,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank bought a new position in shares of NVIDIA in the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp grew its stake in shares of 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. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Down 2.3%

NVDA opened at $173.72 on Monday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30. The business has a 50-day moving average of $155.30 and a 200-day moving average of $132.28. 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 capitalization of $4.24 trillion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.53 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period last year, the business earned $0.61 earnings per share. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed 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 dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the director directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock valued at $800,141,003 over the last 90 days. 4.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on NVDA shares. UBS Group reissued a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Citigroup increased their price target on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. TD Cowen increased their price target on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Morgan Stanley raised their target price on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Needham & Company LLC raised their target price on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

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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