NVIDIA Corporation (NASDAQ:NVDA) Stake Lessened by Riverbridge Partners LLC

Riverbridge Partners LLC cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,920,125 shares of the computer hardware maker's stock after selling 58,129 shares during the quarter. NVIDIA accounts for 3.3% of Riverbridge Partners LLC's portfolio, making the stock its 3rd largest position. Riverbridge Partners LLC's holdings in NVIDIA were worth $208,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Tacita Capital Inc acquired a new position in NVIDIA in the fourth quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth $38,000. Copia Wealth Management acquired a new position in NVIDIA during the fourth quarter worth $50,000. LSV Asset Management acquired a new stake in shares of NVIDIA in the fourth quarter valued at $54,000. Finally, Bruce G. Allen Investments LLC increased its position in 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 purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,296,844 shares of company stock valued at $624,019,677 in the last ninety days. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA traded up $1.76 during mid-day trading on Tuesday, hitting $160.00. The company had a trading volume of 137,373,549 shares, compared to its average volume of 267,324,071. The company has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 51.61, a P/E/G ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $160.98. 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 stock's 50-day moving average price is $137.37 and its 200-day moving average price is $127.97.

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

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on NVDA. Rosenblatt Securities raised their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Arete Research raised NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Needham & Company LLC reissued a "buy" rating and set a $160.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Truist Financial upped their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, KeyCorp set a $190.00 price objective on NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average price target of $176.47.

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.