NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 69.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,340 shares of the computer hardware maker's stock after selling 23,855 shares during the period. NVIDIA comprises 1.3% of New Century Financial Group LLC's holdings, making the stock its 15th biggest holding. New Century Financial Group LLC's holdings in NVIDIA were worth $1,121,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC raised its holdings in shares of NVIDIA by 198.2% during 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 during the period. Finally, LSV Asset Management acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on NVDA shares. Oppenheimer reaffirmed an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a research report on Monday, June 16th. Bank of America boosted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three 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 an average price target of $175.78.

Insider Activity at NVIDIA

In related news, Director A Brooke Seawell sold 50,980 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $156.92, for a total transaction of $7,999,781.60. Following the completion of the transaction, the director now directly owns 1,679,361 shares in the company, valued at $263,525,328.12. This represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert K. Burgess sold 50,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the transaction, the director now owns 201,044 shares of the company's stock, valued at approximately $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,792,267 shares of company stock worth $544,823,117 in the last ninety days. 4.17% of the stock is currently owned by insiders.

NVIDIA Price Performance

NASDAQ NVDA opened at $157.75 on Friday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $130.96 and a 200 day simple moving average of $126.97. The company has a market cap of $3.85 trillion, a P/E ratio of 50.89, a P/E/G ratio of 1.40 and a beta of 2.12. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $158.71.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. On average, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

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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