NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Optimum Investment Advisors

Key Points

• Optimum Investment Advisors reduced its stake in NVIDIA Corporation by 11.1%, owning 88,560 shares valued at approximately $9.6 million, making it the third largest position in their portfolio.
• NVIDIA's stock has multiple buy ratings from analysts, with a consensus target price of $182.03, despite a recent earnings miss compared to expectations.
• CEO Jen Hsun Huang and Director Tench Coxe sold significant amounts of NVIDIA stock, with Huang selling 75,000 shares and Coxe selling 1 million shares, indicating notable insider activity.

Optimum Investment Advisors cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,560 shares of the computer hardware maker's stock after selling 11,035 shares during the quarter. NVIDIA accounts for approximately 4.5% of Optimum Investment Advisors' holdings, making the stock its 3rd biggest position. Optimum Investment Advisors' holdings in NVIDIA were worth $9,598,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. raised its position in NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after acquiring an additional 864 shares in the last quarter. Centerpoint Advisory Group raised its position in NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares in the last quarter. GSB Wealth Management LLC raised its position in NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares in the last quarter. Variant Private Wealth LLC raised its position in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after acquiring an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc raised its position in NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after acquiring an additional 1,265 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVDA shares. Benchmark reiterated a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Oppenheimer increased their price objective on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Mizuho set a $192.00 price objective on NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $182.03.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,339,800 shares of company stock valued at $800,141,003. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Down 2.3%

Shares of NASDAQ:NVDA opened at $173.72 on Friday. The stock's 50-day moving average price is $155.30 and its two-hundred day moving average price is $132.29. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.30. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the business posted $0.61 earnings per share. The firm's quarterly revenue was up 69.2% on a year-over-year basis. On average, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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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