Unified Investment Management reduced its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 22.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,642 shares of the computer hardware maker's stock after selling 3,283 shares during the quarter. NVIDIA accounts for about 1.5% of Unified Investment Management's holdings, making the stock its 17th largest holding. Unified Investment Management's holdings in NVIDIA were worth $1,262,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Condor Capital Management grew its holdings in NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after acquiring an additional 89 shares during the last quarter. Kelly Financial Services LLC lifted its holdings in NVIDIA by 2.0% in the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after buying an additional 94 shares during the period. Foundry Financial Group Inc. lifted its holdings in NVIDIA by 2.2% in the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock worth $589,000 after buying an additional 96 shares during the period. Mendel Capital Management LLC lifted its holdings in NVIDIA by 0.8% in the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after buying an additional 96 shares during the period. Finally, Wallace Hart LLC lifted its holdings in NVIDIA by 3.9% in the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after buying an additional 97 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Needham & Company LLC increased their price target on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group began coverage on NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective on the stock. Finally, Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $181.22.
Read Our Latest Report on NVDA
Insiders Place Their Bets
In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $175.22, for a total value of $13,141,500.00. Following the transaction, the chief executive officer directly owned 73,898,225 shares in the company, valued at $12,948,446,984.50. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director A Brooke Seawell sold 48,792 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the transaction, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,264,800 shares of company stock valued at $786,735,503. Corporate insiders own 4.17% of the company's stock.
NVIDIA Stock Up 1.9%
Shares of NVIDIA stock traded up $3.25 on Monday, reaching $176.75. The company's stock had a trading volume of 139,407,827 shares, compared to its average volume of 155,064,304. The company has a market capitalization of $4.31 trillion, a price-to-earnings ratio of 57.02, a P/E/G ratio of 1.53 and a beta of 2.13. The firm's fifty day simple moving average is $151.77 and its two-hundred day simple moving average is $131.09. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $177.00. 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 (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 analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. Equities analysts anticipate 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. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.
NVIDIA Company Profile
(
Free Report)
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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