NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Platform Technology Partners

Key Points

• Platform Technology Partners has reduced its holdings in NVIDIA by 9.6%, bringing its total shares owned to 66,206, with a valuation of approximately $7.18 million.
• NVIDIA reported a miss on earnings per share for the recent quarter, posting $0.81 compared to the expected $0.87, although its revenue of $44.06 billion exceeded estimates.
• The company declared a quarterly dividend of $0.01 per share, resulting in an annualized yield of 0.0%, with a dividend payout ratio currently at 1.29%.

Platform Technology Partners reduced its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,206 shares of the computer hardware maker's stock after selling 7,064 shares during the quarter. NVIDIA makes up 2.1% of Platform Technology Partners' portfolio, making the stock its 8th biggest holding. Platform Technology Partners' holdings in NVIDIA were worth $7,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth about $38,000. Copia Wealth Management purchased a new stake in shares of NVIDIA in the fourth quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the first quarter worth about $51,000. Bruce G. Allen Investments LLC boosted its position in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the period. Finally, LSV Asset Management purchased a new stake in shares of NVIDIA in the fourth quarter worth about $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 0.8%

NVDA opened at $180.77 on Friday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.88. 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 stock has a market cap of $4.41 trillion, a P/E ratio of 58.31, a P/E/G ratio of 1.58 and a beta of 2.14. The stock's 50 day moving average price is $158.85 and its 200 day moving average price is $133.52.

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

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid 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 dividend payout ratio (DPR) is presently 1.29%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVDA. Citigroup upped their target price on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Morgan Stanley upped their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Bank of America upped their target price on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Oppenheimer increased their price target on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Wedbush reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $183.75.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were 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. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,537,440 shares of company stock valued at $835,035,782. Company insiders own 4.17% of the company's stock.

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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