NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Sara Bay Financial

Sara Bay Financial lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 351,295 shares of the computer hardware maker's stock after selling 2,452 shares during the period. NVIDIA makes up approximately 17.0% of Sara Bay Financial's portfolio, making the stock its 2nd biggest holding. Sara Bay Financial's holdings in NVIDIA were worth $38,527,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tacita Capital Inc bought a new stake in NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new stake in NVIDIA during the 4th quarter valued at $38,000. Luken Investment Analytics LLC bought a new stake in NVIDIA during the 4th quarter valued at $40,000. Copia Wealth Management bought a new stake in NVIDIA during the 4th quarter valued at $50,000. Finally, LSV Asset Management bought a new stake in NVIDIA during the 4th quarter valued at $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares of the company's stock, valued at $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,540,845 shares of company stock valued at $357,983,449. Insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Raymond James Financial upped their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $173.05.

NVIDIA Stock Performance

NASDAQ NVDA opened at $145.48 on Thursday. The company has a 50-day simple moving average of $124.96 and a two-hundred day simple moving average of $126.62. The company has a quick ratio of 2.96, a current ratio of 3.39 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 $153.13. The firm has a market cap of $3.55 trillion, a price-to-earnings ratio of 46.93, a PEG ratio of 1.27 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The business's quarterly revenue was up 69.2% on a year-over-year basis. On average, equities 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 will be paid on Thursday, July 3rd. Stockholders 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 dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

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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