NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 15.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 81,111 shares of the computer hardware maker's stock after selling 14,981 shares during the quarter. NVIDIA accounts for about 2.7% of Midwest Professional Planners LTD.'s investment portfolio, making the stock its 2nd largest holding. Midwest Professional Planners LTD.'s holdings in NVIDIA were worth $8,791,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tectonic Advisors LLC grew its position in NVIDIA by 66.9% in the first quarter. Tectonic Advisors LLC now owns 2,574 shares of the computer hardware maker's stock valued at $279,000 after acquiring an additional 1,032 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its position in NVIDIA by 1.8% in the first quarter. Kornitzer Capital Management Inc. KS now owns 261,458 shares of the computer hardware maker's stock valued at $28,337,000 after acquiring an additional 4,628 shares in the last quarter. Concord Asset Management LLC VA grew its position in NVIDIA by 5.7% in the first quarter. Concord Asset Management LLC VA now owns 95,872 shares of the computer hardware maker's stock valued at $9,847,000 after acquiring an additional 5,136 shares in the last quarter. Grange Capital LLC grew its position in NVIDIA by 10.5% in the first quarter. Grange Capital LLC now owns 27,764 shares of the computer hardware maker's stock valued at $3,009,000 after acquiring an additional 2,633 shares in the last quarter. Finally, Violich Capital Management Inc. acquired a new stake in NVIDIA in the first quarter valued at approximately $216,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVDA opened at $182.06 on Tuesday. The firm has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.73, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. 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 one year low of $86.62 and a one year high of $183.88. The stock's fifty day moving average is $160.71 and its 200-day moving average is $133.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 firm 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%. NVIDIA's revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 earnings per share. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 transaction, the director directly owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $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 5,687,440 shares of company stock valued at $862,095,782 in the last three months. 4.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent research reports. Citigroup increased their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Wedbush reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Morgan Stanley increased 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, BNP Paribas upgraded NVIDIA to a "hold" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

NVIDIA 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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