Sierra Capital LLC Sells 2,850 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Sierra Capital LLC has reduced its stake in NVIDIA by 10%, selling 2,850 shares and holding 25,704 shares worth approximately $2.79 million.
• Insider trading activity included CFO Colette Kress selling 27,650 shares for over $4.7 million, reducing her position by 0.92%.
• Analysts are optimistic about NVIDIA's prospects, with several firms raising their target prices to $200 and maintaining a consensus rating of "Moderate Buy."

Sierra Capital LLC decreased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,704 shares of the computer hardware maker's stock after selling 2,850 shares during the period. Sierra Capital LLC's holdings in NVIDIA were worth $2,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. boosted its holdings 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 valued at $9,610,000 after purchasing an additional 864 shares during the last quarter. Centerpoint Advisory Group raised its stake in NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after purchasing an additional 943 shares during the last quarter. GSB Wealth Management LLC raised its holdings in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after acquiring an additional 1,043 shares during the last quarter. Variant Private Wealth LLC raised its holdings in shares of NVIDIA by 20.6% during the 1st 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 during the period. Finally, Financial Perspectives Inc raised its position in shares of NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after buying an additional 1,265 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial raised their price objective on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. The Goldman Sachs Group began coverage on NVIDIA in a research report on Thursday, July 10th. They issued a "buy" rating and a $185.00 price target for the company. Rosenblatt Securities increased their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. Finally, Morgan Stanley boosted their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $182.03.

NVIDIA Trading Up 0.2%

NASDAQ:NVDA traded up $0.31 during mid-day trading on Wednesday, hitting $178.57. The company had a trading volume of 83,959,600 shares, compared to its average volume of 246,394,797. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30. The business's fifty day moving average is $157.13 and its two-hundred day moving average is $132.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market cap of $4.36 trillion, a P/E ratio of 57.60, a P/E/G ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 EPS. As a group, research analysts expect 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. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's payout ratio is 1.29%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.16, for a total transaction of $13,362,000.00. Following the completion of the sale, the chief executive officer directly owned 73,523,225 shares in the company, valued at $13,098,897,766. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,489,800 shares of company stock valued at $826,553,003 over the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

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.